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Fly News Breaks for May 19, 2016
RLJ
May 19, 2016 | 08:06 EDT
As previously reported, BofA/Merrill downgraded RLJ Lodging Trust two notches to Underperform from Buy and lowered its price target to $18 from $23. Analyst Shaun Kelley is concerned about RLJ's overexposure to Houston, New York City, Denver, and Chicago markets and thinks the loss of veteran CEO Tom Baltimore will take time to replace.
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