Barclays raised its price target on Choice Hotels (NYSE: CHH) to $67.00 (from $60.00) while maintaining a Underweight rating, following the company's third quarter earnings report.

Analyst Fellicia Hendrix notes a positive outlook on the shares, as the company reported third quarter earnings per share and revenues results above consensus projections fueled by favorable demand environment, coupled with tailwinds from unit and royalty rate growth.