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Fly News Breaks for August 20, 2018
HT
Aug 20, 2018 | 08:03 EDT
As reported previously, Baird analyst Michael Bellisario downgraded Hersha Hospitality to Neutral from Outperform. The analyst believes current sector valuations reflect some expectation for continued top-line above trend growth as well as M&A speculation despite persistently modest top-line growth and still-challenged bottom-line outlooks. The downgrade is the result of Hersha outperforming peers year-to-date, said Bellisario, who raised his price target to $22 from $20 on Hersha Hospitality shares.
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