Jefferies Lowers Estimates/Price Target On LaSalle Hotel (LHO)

Jefferies lowered estiamtes and its price target on Buy-rated LaSalle Hotel Properties (NYSE: LHO) from $33 to $31.

The firm states, "While the valuation on acquisitions as well as on the shares of LHO appear expensive, we highlight the overall growth of the company through acquisitions and margin expansion. We believe the growth profile for LHO warrants a peak-ish multiple and a premium to its peers. The quarter provides support for our thesis and should be bullish for the shares."

The firm cut FY11 EPS estiamtes from $1.70 to $1.52 and FY12 from $2.34 to $2.31.

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

Shares of LaSalle Hotel Properties closed at $26.40 yesterday.

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