Cowen Downgrades LaSalle Hotel Properties (LHO) to Market Perform

Cowen downgraded LaSalle Hotel Properties (NYSE: LHO) from Outperform to Market Perform with a price target of $37.00 (from $46.00), citing a lack of visibility.

Analyst James Sullivan commented, "We suspected that LaSalle’s 2H15 RevPAR outlook would pressure Hotel REIT shares today, but as we noted yesterday, we needed more information to determine if the issues were company- or sector-specific. The call left us with the uncomfortable conclusion that the issues were both company-specific and sector wide, and visibility on a rebound is limited."

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

Shares of LaSalle Hotel Properties closed at $37.78 yesterday.

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