China Lodging Group (HTHT) PT Bumped to $52 at Brean Capital
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Brean Capital analyst Fawne Jiang reiterated a Buy rating and raised his price target on China Lodging Group (NASDAQ: HTHT) to $52.00 (from $48.00) following solid Q3 results.
Jiang commented, "HTHT reported solid 3Q16 results with improving RevPAR trend YoY for a third consecutive quarter. We are positive to see the company is committed to enhance its quality products (upgrades to Hanting 2.0) and services (new cleaning standards). This should help to improve customer experiences, strengthen brand values, and potentially lead to higher monetization/ margin. The strategic shifts towards mid/upscale hotels to better capture consumption upgrades in China should help to further lift RevPAR growth. As a result, we are factoring a continued positive trend of RevPAR in the coming quarters. As such, we reiterate our Buy rating on HTHT and raise our target price to $52 from $48."
Shares of China Lodging Group closed at $47.57 yesterday.
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