Deutsche Bank Upgrades Ryman Hospitality Properties (RHP) to Buy

Deutsche Bank upgraded Ryman Hospitality Properties (NYSE: RHP) from Hold to Buy with a price target of $58.00 (from $46.00).

Analyst Chris Woronka said, "We are upgrading RHP to Buy from Hold. We have identified up to $92m of incremental hotel EBITDA available to RHP (38% of 2013 total) if the Group segment recovers to levels the Transient segment is already at today and RHP holds serve on market share. In reality, with the Marriott transition now having turned the corner, RHP should gain share, particularly in the out years. We believe consensus estimates are too low, and it's our experience that beat and raise stories with relatively long growth runways (we believe RHP is now one) typically get overweighted by a wide array of investors. As the lodging cycle progresses, we expect RHP to outperform. Valuation is undemanding."

For an analyst ratings summary and ratings history on Ryman Hospitality Properties click here. For more ratings news on Ryman Hospitality Properties click here.

Shares of Ryman Hospitality Properties closed at $47.44 yesterday.

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