Deutsche Bank upgraded China Lodging Group (NASDAQ: HTHT) from Sell to Hold with a price target of $26.00 (from $20.50). The change follows Q3 results. Analyst Karen Tang said RevPAR was stabilizing faster than expected.

"As we roll forward to 2016 and lift FY15-16 EBITDA by 3-14%, we raise our TP from US$20.5 to US$26 and upgrade HTHT from Sell to Hold," said Tang.

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Shares of China Lodging Group closed at $29.18 yesterday.