UPDATE: Deutsche Bank Increases PT to $4.50 on Felcor Lodging Trust; Asset Sales Lift Shares

Deutsche Bank increases its price target from $3.50 to $4.50 on Felcor Lodging Trust

as shares soar on asset sale commentary, but reiterates its Hold rating on shares as it believe valuation already includes further deleveraging. Deutsche Bank comments, "Shares responded to more favorable commentary on asset sales. Interest in FCH's hotels from potential buyers has increased since February although pricing has not moved much. Unsolicited interest for 2 hotels led FCH to increase planned asset sales to 18 hotels from 16. We are maintaining our Hold rating as we believe valuation has anticipated a faster deleveraging process." FCH closed at $4.50 on Tuesday.