Janney Montgomery Scott Starts MHI Hospitality (MDH) at Neutral
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Janney Montgomery Scott initiates coverage on MHI Hospitality Corp. (NYSE: MDH) with a Neutral rating, saying while they expect the company to generate double-digit FFO/sh growth in 2008 and 2009, their Neutral rating reflects the declining fundamentals of the US hotel industry.
The see fair value for MDH of $10 per share (MDH currently trades at $6.50).
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