Jefferies Cuts Price Target On Diamondrock Hospitality (DRH)

Jefferies maintained a Hold on Diamondrock Hospitality (NYSE: DRH) but cut its price target from $10 to $8 to reflect a more tempered RevPAR growth outlook and a limited asset trading environment.

The firm states, "While our view on the company’s portfolio being less dynamic than others is likely more of a positive in the present environment, we also note risks to group bookings particularly at Marriott properties as the company adjusts to MAR’s new sales process. We believe this could continue to generate a
headwind for the company."

For more ratings news on Diamondrock Hospitality click here and for the rating history of Diamondrock Hospitality click here.

Shares of Diamondrock Hospitality closed at $8.06 yesterday.

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