UPDATE: Bank of America Raises PO to $41.80 on Home Inns & Hotels Post Solid Quarter

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

Bank of America reiterated its Buy rating on Home Inns & Hotels (NASDAQ: HMIN) and increased its price objective from $37.10 to $41.80. Bank of America commented, "As we approach 2013, we introduce an updated price objective, which is based on 2013E EV/EBITDA. We raise our PO to US$41.8 from US$37.1 accordingly, implying 55% potential upside. The stock is trading at 5.4x our 2013E EV/EBITDA. We believe there is potential margin expansion for the sector next year as the improvement in China's economy may boost RevPAR while the lower inflation environment could slow down the pace of cost increase. Home Inns & Hotels closed at $27.45 on Tuesday.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!