Oppenheimer Maintains Outperform Rating and $43 PT on Home Inns & Hotels Management

A report from Oppenheimer reiterates its Outperform rating and $43 price target on Home Inns & Hotels Management HMIN. The report states, “3Q11 results were strong with adj'd EBITDA of $42.8M beating our $39.4M as both top line/margins outperformed. We're encouraged to see continuous operation improvement, as RevPAR for matured hotels outside SH was up 6% y/y. Long-term perspective also remains solid targeting at least 300 new hotels/yr for the next few years." HMIN closed yesterday at $32.23.