Stifel Raises Price Target on Extended Stay America (STAY) to $15; Reiterates Hold

November 15, 2016 9:35 AM EST
Get Alerts STAY Hot Sheet
Price: $15.50 -0.77%

Rating Summary:
    6 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Stifel reiterated a Hold rating on Extended Stay America (NYSE: STAY), and raised the price target to $15.00 (from $14.50), following 12.75 million paired share offering by ownership group. The sale equates to 12.4% of the shares owned by the ownership group and 7.1% of the shares outstanding of STAY.

Analyst Simon Yarmak commented, "Affiliates of BX, Centerbridge, and Paulson completed an offering of 12.75 million paired shares of STAY at $14.82. The company did not receive any proceeds from the offering. The group sold 13.0 million shares in late September. Shares have rallied 15.1% vs. the S&P 500 +0.5%, since Oct. 24."

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 $15.26 yesterday.

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