Credit Suisse Bearish on Ashford Hospitality Trust, Inc. (AHT); Downgrades and Cuts Price Target
Credit Suisse analyst Ian Weissman weighs in on Ashford Hospitality Trust, Inc. (NYSE:AHT) after taking a closer look at the company’s assets.
The analyst explains, “the company’s significant floating-rate debt exposure, takeout complications due to its external management structure, and uncertainty surrounding its limited-service portfolio (nearly half of its portfolio) pose a risk at this stage in the lodging cycle.”
As a result, Weissman downgrades the stock from Neutral to Underperform and lowers his price target from $6 to $5.
According to TipRanks, Weissman has a 75% success rate recommending stocks with a 7.4% average return per rating.