UPDATE: Deutsche Bank Raises PT on Hersha Hospitality Trust on Model Updates After 4Q Results

In a report published Monday, Deutsche Bank reiterated its Hold rating on Hersha Hospitality Trust

, and slightly raised its price target from $5.00 to $5.25. Deutsche Bank noted, “We are updating our HT model post 4Q results and HT's preferred equity offering. Strong transient demand in NYC following Superstorm Sandy has provided HT's hotels with a temporary lift. While supply growth in NYC may be delayed by the storm, the high profitability of mid-block limited service hotels in NYC will attract new supply, limiting rate growth potential in our view. Our price target goes to $5.25. We remain at Hold.” Hersha Hospitality Trust closed on Friday at $5.69.