UPDATE: Stifel Upgrades Hersha Hospitality Trust (HT) to Buy on 'Asymmetric Stock Risk'

Stifel analyst Simon Yarmak upgraded Hersha Hospitality Trust (NYSE: HT) from Hold to Buy with a price target of $14.50 (from $11.00).

The analyst comments "Upgrading To Buy On Asymmetric Stock Risk. We are upgrading Hersha Hospitality to a Buy from a Hold. We feel the announcement of the portfolio sale last week de-risked the story, and at current valuations there is limited downside. We believe if the company can execute on additional asset sales and enhance its improved portfolio, the NAV discount should narrow. We establish a $14.50 target that equates to 14.0x multiple on 2023 adjusted EBITDA of $117.2 million or $395k/key."

For an analyst ratings summary and ratings history on Hersha Hospitality Trust click here. For more ratings news on Hersha Hospitality Trust click here.

Shares of Hersha Hospitality Trust closed at $10.47 yesterday.

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