Wells Fargo Upgrades LaSalle Hotel Properties (LHO) to Outperform; Raising Numbers as Several Catalysts Hit the Horizon

Wells Fargo upgraded LaSalle Hotel Properties (NYSE: LHO) to Outperform with a price target range raised from $25-27 to $27.50-$30.

Wells analyst says, "We see several catalysts for the shares, 1) renovation upside potential from Boston, DC, Chicago, NYC and LA assets, 2) DC not as soft as expected in 2012 then accelerating in 2013, 3) valuation - trading 13% below its long-term EV/EBITDA average on 2013E, 4) continued room for margin expansion to prior peak, and 5) share price underperformance YTD among smaller institutional quality portfolios, a group we expect to outperform within lodging in 2012. Raising our 2012E FFO/share to $2.03, from $1.92, and initiating 2013E of $2.28."

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 $27.04 yesterday.

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