Deutsche Bank Starts Summit Hotel Properties (INN) at Buy; Carving Out a Cycle-Appropriate Niche

Deutsche Bank initiates coverage on Summit Hotel Properties (NYSE: INN) with a Buy. PT $12.50.

Deutsche analyst said, "We believe valuation and yield are both compelling at current levels. We have confidence in management's growth strategies and believe the company's unseasoned portfolio provides a visible source of operating leverage. We expect Summit to be a savvy acquirer and recycler of assets, and believe the market clustering approach will have proven benefits in the lodging upcycle. Based on its operating history as a private company, we view Summit to be a strong asset manager w/ solid flag affiliations."

For more ratings news on Summit Hotel Properties click here and for the rating history of Summit Hotel Properties click here.

Shares of Summit Hotel Properties closed at $9.86 yesterday.

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