UPDATE: Deutsche Bank Lowers Price Target on Summit Hotel Properties to $9.50
According to Deutsche Bank, Summit Hotel Properties (NYSE: INN) price target is reduced to $9.50.
Deutsche Bank said that INN delivered a nice, clean beat in the 1Q. “We think lapping the March 25th anniversary when INN lost 11 Choice flags sets up INN to outperform for the remainder of 2012 as these hotels ramp under new brands.”
Summit Hotel Properties closed yesterday at $8.01.
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