Zacks Upgrades Summit Hotel Properties to “Neutral” (INN)
Summit Hotel Properties (NYSE:INN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday, AmericanBankingNews.com reports. The firm currently has a $9.20 target price on the stock. Zacks‘ price objective suggests a potential upside of 3.72% from the company’s current price.
Shares of Summit Hotel Properties (NYSE:INN) traded down 1.22% during mid-day trading on Monday, hitting $8.87. 636,890 shares of the company’s stock traded hands. Summit Hotel Properties has a 52 week low of $8.54 and a 52 week high of $10.56. The stock’s 50-day moving average is $8.86 and its 200-day moving average is $9.3. The company’s market cap is $755.9 million.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, November 26th. They now have a $10.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at RBC Capital cut their price target on shares of Summit Hotel Properties from $11.00 to $10.00 in a research note to investors on Friday, November 8th. Finally, analysts at Merrill Lynch initiated coverage on shares of Summit Hotel Properties in a research note to investors on Monday, October 21st. They set a “neutral” rating and a $10.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Summit Hotel Properties presently has an average rating of “Buy” and an average price target of $10.41.
Summit Hotel Properties, Inc (NYSE:INN) is a real estate investment trust and a hotel investment company.
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