Deutsche Bank Upgrades Ashford Hospitality Prime (AHP) to Buy

Deutsche Bank upgraded Ashford Hospitality Prime (NYSE: AHP) from Hold to Buy with a price target of $13.00 (from $14.00), saying NAV should improve by $1.50/share post vote.

Analyst Chris Woronka said at Friday's annual meeting they expect AHP shareholders to approve an amended advisory agreement whereby the termination fee payable from AHP to the advisor declines by approximately $50m, or nearly $1.50 per share. This immediately accretive to our NAV model by the same amount, he said.

For an analyst ratings summary and ratings history on Ashford Hospitality Prime click here. For more ratings news on Ashford Hospitality Prime click here.

Shares of Ashford Hospitality Prime closed at $9.58 yesterday.

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