UPDATE: Morgan Stanley Upgrades LaSalle Hotel Properties As Values Continue To Rise

In a report published Monday, Morgan Stanley analyst Thomas Allen upgraded the rating on LaSalle Hotel Properties (NYSE: LHO) from Underweight to Overweight, and raised the price target from $35.00 to $45.00.

In the report, Morgan Stanley noted, “We see the US hotel transaction market heating up in early '15 aided by foreign buyers and redeployment of recent sale proceeds. LHO appears best positioned given its high-end, well located, independent focus. We also see less risk from LHO's DC and NYC exposures. Move Overweight, $45 PT.”

LaSalle Hotel Properties closed on Friday at $40.30.