Update: Goldman Sachs Lowering Price Target On FelCor Lodging Trust
Goldman Sachs is lowering its price target on shares of FelCor Lodging Trust Inc. (NYSE: FCH) to $7.10 from $8.25, and it has a Neutral rating on shares.
In a Goldman Sachs writes, "We are lowering our 12-month price target to $7.10 from $8.25 due to lower multiples (12X EBITDA and 11X FFO on 2012E, from 13X and 13X respectively). We are lowering our multiples due to increased risk given increased economic uncertainty."
Shares of FCH closed at $5.20 on Friday.
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