UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on LaSalle Hotel Properties Following 1Q 2013 Results
In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on LaSalle Hotel Properties (NYSE: LHO), and slightly raised the price target from $26.00 to $27.00.
In the report, Poole noted, “Overall, LHO reported a solid 1Q. Pricing power remains healthy, and excluding the Park Central that is under renovation, 2Q RevPAR guidance suggests solid RevPAR gains. Prudently, LHO did not raise FY 2013 guidance as 1Q is seasonally light and estimated disruption from the Park Central renovation is subject to risks. We see LHO as a well managed company that continues to drive solid flow through, but concerns about earnings risk in 2013 keep us at Hold.”
LaSalle Hotel Properties closed on Thursday at $25.53.
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