Janney Capital Starts Summit Hotel Properties (INN) at Buy

Janney Capital initiates coverage on Summit Hotel Properties (NYSE: INN) with a Buy rating and a price target of $13.00.

Analyst Tyler Batory commented, "We are initiating coverage of Summit Hotel Properties with a Buy Rating and $13 fair value. We believe the company strategy of focusing on select-service assets in top 50 markets can be successful and lead to mid-single digit RevPar growth. We also expect the company will continue to make prudent acquisitions and improvements to current properties to drive RevPAR and EBITDA longer-term. Our fair value is based on 11.5x our 2016 EBITDA."

For an analyst ratings summary and ratings history on Summit Hotel Properties click here. For more ratings news on Summit Hotel Properties click here.

Shares of Summit Hotel Properties closed at $11.49 yesterday.

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