Credit Suisse Analyst Downgrades LaSalle Hotel Properties (LHO) from Buy to Hold
Credit Suisse analyst Ian Weissman weighed in on LaSalle Hotel Properties (NYSE: LHO) downgrading the stock from Buy to Hold. Weissman decreased his price target from $26 to $25.
Weissman comments, “The downgrade is a valuation call as the 11% run in the stock price has driven the implied multiple to 11.3x (above our 10.75x target).” Weissman further explains that because of the company’s ephemeral focus, fundamentals will remain challenging. This is seen by the fact that its 2Q print is 1.7 % RevPar growth.
According to TipRanks, Weissman has a 75% success rate recommending stocks with an average annual return of 7.4 % per recommendation.