UPDATE: Morgan Stanley Upgrades La Quinta Holdings (LQ) to Overweight

(Updated - June 15, 2017 8:07 AM EDT)

(updated to add analyst comment)

Morgan Stanley upgraded La Quinta Holdings (NYSE: LQ) from Equalweight to Overweight with a price target of $16.00 (from $14.00).

Analyst Thomas Allen says a stronger economy is offering a positive impact on lodging demand which is offsetting some headwinds from traditional and non-traditional supply. Allen also says that stable growth should support to the current valuation multiple.

For an analyst ratings summary and ratings history on La Quinta Holdings click here. For more ratings news on La Quinta Holdings click here.

Shares of La Quinta Holdings closed at $14.64 yesterday.

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