Barclays Maintains Underweight Rating for Choice Hotels Intl: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has maintained its Underweight rating on Choice Hotels Intl (NYSE:CHH) but raised its price target from $112.00 to $114.00. Despite the increase in the price target, the new target still suggests a potential downside of 6.22% from the current share price of $121.56. Choice Hotels operates 628,000 rooms across 13 brands and franchises make up 99% of its revenue. The United States accounts for 79% of total rooms. The company recently added the Everhome brand and closed on its Radisson acquisition, adding approximately 70,000 rooms.
January 29, 2024 | 5:00 pm
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Barclays maintains an Underweight rating on Choice Hotels Intl but raises the price target to $114, indicating a potential downside from the current price of $121.56.
The maintenance of an Underweight rating suggests that Barclays analysts believe the stock may not perform as well as its peers in the near term. The increase in the price target is relatively minor and still below the current trading price, which could be interpreted as a lack of confidence in the stock's ability to maintain or grow its current price. This could lead to a negative perception among investors and potentially result in a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100