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Cycle In Lodging 'Appears To Be Over'; BofA Downgrades 4 Stocks, Lowers Targets On 6

Cycle In Lodging 'Appears To Be Over'; BofA Downgrades 4 Stocks, Lowers Targets On 6

Bank of America's Shaun Kelley issued some concerning comments on the Lodging sector Thursday morning. "The cycle appears to be over," the analyst suggested.

He downgraded and lower priced targets on the following stocks:

  • Hilton Worldwide Holdings Inc (NYSE: HLT) - from Buy to Neutral, price target lowered from $26 to $23
  • Hyatt Hotels Corporation (NYSE: H) - from Buy to Neutral, PT from $50 to $49
  • Hersha Hospitality Trust (NYSE: HT) - from Buy to Neutral, $21 to $18
  • RLJ Lodging Trust (NYSE: RLJ) - from Buy to Underperform, $23 to $18

In addition, the analyst lowered price targets on numerous other stocks in the group:

  • Marriott International Inc (NYSE: MAR) - Buy rated - $76 to $75
  • Choice Hotels International Inc (NYSE: CHH) - Buy - $53 to $50
  • Sunstone Hotels Investors Inc (NYSE: SHO) - Buy - $14 to $13.50
  • Extended Stay America Inc (NYSE: STAY) - Neutral - $17 to $15
  • Pebblebrook Hotel Trust (NYSE: PEB) - Neutral - $29 to $27
  • LaSalle Hotels Properties (NYSE: LHO) - Neutral - $26 to $25

Hilton, Hyatt and Hersha were down about 3.5 percent, while the multi-notch downgraded stock, RLJ, was leading the sector lower, trading down about 6.5 percent.

Latest Ratings for HLT

Oct 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020BMO CapitalUpgradesUnderperformMarket Perform
Sep 2020B of A SecuritiesMaintainsBuy

View More Analyst Ratings for HLT
View the Latest Analyst Ratings


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