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Fly News Breaks for November 11, 2019
RLH
Nov 11, 2019 | 09:22 EDT
Craig-Hallum analyst Alex Fuhrman downgraded Red Lion Hotels to Hold from Buy with a price target of $3, down from $16, following "weak" Q3 results. In a research note to investors, Fuhrman says the surprise resignation of CEO Greg Mount appears to have been a board decision, but comes at a "challenging" time for Red Lion as the company further emphasizes the franchise business, and remains skeptical of results materially improving until a new CEO is installed.
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