Deutsche Bank Starts Extended Stay (STAY) at Buy; 'Compelling Niche Growth Story'

December 24, 2013 7:24 AM EST Send to a Friend
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Price: $18.64 -0.11%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 23
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Deutsche Bank initiated coverage on Extended Stay (NYSE: STAY) with a Buy rating and a price target of $30.00. Analyst Chris Woronka called the stock a compelling niche growth story.

"A somewhat limited public float notwithstanding, we believe STAY can (and should) be widely owned by lodging investors seeking differentiation in a group that is increasingly homogenous to two models: brand managers and Luxury/Upper Upscale-focused hotel REITs. We also believe it fits into broader consumer-centric growth and/or GARP type portfolios given reasonably attractive valuation against other growth names in retail and restaurants. STAY provides investors with the added "juice" of above-trend EBITDA growth and a solid dividend," said Woronka.

For an analyst ratings summary and ratings history on Extended Stay click here. For more ratings news on Extended Stay click here.

Shares of Extended Stay closed at $24.85 yesterday.


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