FBR Capital Upgrades Gaylord Entertainment (GET) to Market Perform
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FBR Capital upgrades Gaylord Entertainment Co. (NYSE: GET) from Underperform to Market Perform, saying the valuation is attractive despite L-T supply concerns. The firm raised their price target from $11 to $17.
The firm commented, "Although our long-term concerns about above-industry supply growth in GET's top markets have not changed, following the nearly 40% drop in the share price over the past seven weeks (with the S&P 500 down about 2%), signs of life in group bookings and a very attractive valuation versus that of peers mean that we can no longer justify our Underperform rating on the stock-ergo, our upgrade to Market Perform."
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