Barclays analyst Anthony Powell believes Extended Stay America could be valued at $25 per share in a split scenario if the company keeps more of the economics at the real estate investment trust and is successful in achieving a competitive multiple. While the timing or outcome of the company's current review remains uncertain, some kind of structural split is the preferred option to create value over the long run, Powell tells investors in a research note after meeting with its CFO. The analyst keeps an Overweight rating on Extended Stay America with a $21 price target.