Compass Point analyst Floris van Dijkum upgraded Pebblebrook Hotel (PEB) to Buy from Neutral with an unchanged price target of $17. The firm is making “a contrarian trading call,” noting that the stock has lagged sector peers meaningfully year-to-date, but should post the second highest adjusted EBITDA growth in 2025, based on the firm’s estimates. The firm, which also notes that its hotel REIT industry coverage completed Q3 reporting with three of the seven names lowering their 2024 guidance, largely due to weather related storms and union strikes, says “tepid” 2024 earnings guidance and poor investor sentiment have hampered hotel REIT performance year-to-date.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PEB:
- Pebblebrook Hotel upgraded to Buy from Neutral at Compass Point
- Pebblebrook Hotel price target lowered to $16 from $17 at Evercore ISI
- Pebblebrook Hotel Trust Q3 2024 Earnings Overview
- Pebblebrook Hotel reports Q3 EPS 24c, consensus 0c
- Pebblebrook Hotel reports Q3 adjusted FFO 59c, consensus 53c
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
