Wells Fargo Downgrades Choice Hotels (CHH) to Market Perform; Lack of Catalyst
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Price: $40.95 +0.69%
Rating Summary:
1 Buy, 10 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 10 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CHH Now!
Wells Fargo downgraded Choice Hotels (NYSE: CHH) from Outperform to Market Perform. Valuation Range to $40-$42 from $42-$44.
Wells analyst says, "As a pure play franchise company, Choice benefits from topline growth of its franchisees, unit growth and increases in fees charged. We would expect there to be less volatility in the company's earnings vs. its peers due to the isolation from margin pressures, however due to a lack of acceleration in unit growth and a significant YTD outperformance vs. peers, we believe the shares are now fairly valued."
For more ratings news on Choice Hotels click here and for the rating history of Choice Hotels click here.
Shares of Choice Hotels closed at $41.20 yesterday, with a 52 week range of $29.25-$41.42.
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Wells analyst says, "As a pure play franchise company, Choice benefits from topline growth of its franchisees, unit growth and increases in fees charged. We would expect there to be less volatility in the company's earnings vs. its peers due to the isolation from margin pressures, however due to a lack of acceleration in unit growth and a significant YTD outperformance vs. peers, we believe the shares are now fairly valued."
For more ratings news on Choice Hotels click here and for the rating history of Choice Hotels click here.
Shares of Choice Hotels closed at $41.20 yesterday, with a 52 week range of $29.25-$41.42.
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