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Fly News Breaks for June 27, 2019
HST
Jun 27, 2019 | 07:21 EDT
BTIG analyst James Sullivan lowered his price target for Host Hotels (HST) to $20.50 from $24 and maintained a Buy rating to reflect the compression in the market's expectations and valuations. From current valuation levels, Sullivan tells investors in a research note that he thinks the risk-reward has become very favorable. With industry forecasts for RevPAR growth trending lower over the next two years, Sullivan says it is unlikely that there will be a near-term recovery in relative valuations for the sector without firmer RevPAR results.
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