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Fly News Breaks for November 12, 2018
LHO, PEB
Nov 12, 2018 | 07:03 EDT
Stifel analyst Simon Yarmak upgraded Pebblebrook Hotel Trust (PEB) to Buy from Hold and raised his price target for the shares to $38 from $37. The stock's 12% decline since August 21 has created a buying opportunity, Yarmak tells investors in a research note. He thinks Pebblebrook shares will outperform once the merger with LaSalle Hotel (LHO) closes and investors "start putting together a merger model." Further, the analyst believes real estate investment trusts that have the ability to grow cash flow next year will outperform.
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