UPDATE: Bank of America Reiterates on FelCor Lodging Trust on Lowered 2014 EBITDA Estimate
In a report published Wednesday, Bank of America analyst Andrew G. Didora reiterated an Underperform rating on FelCor Lodging Trust (NYSE: FCH), and raised the price target from $7.00 to $7.50.
In the report, Bank of America noted, “We are lowering our 2014 EBITDA estimate to $203M from $220M as we now assume FCH sells its 20 non-core assets throughout the year. Given strong trends in the hotel transaction environment, we estimate FCH is able to sell these assets at a solid clip, and our forecast is towards the low end of the company's $202-217M guide because of this. Our Underperform rating is unchanged, but we are tweaking our PO to $7.50 from $7 as we believe FCH's portfolio would improve with these non-core sales.”
FelCor Lodging Trust closed on Tuesday at $8.29.
Latest Ratings for FCH
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2017 | FBR Capital | Downgrades | Outperform | Market Perform |
| Sep 2016 | Janney Montgomery Scott | Initiates Coverage On | Buy | |
| Sep 2016 | JMP Securities | Downgrades | Market Outperform | Market Perform |
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Posted-In: Andrew G. Didora Bank of AmericaAnalyst Color Price Target Analyst Ratings
