BofA downgraded Apple Hospitality REIT (APLE) to Neutral from Buy with a price target of $11.50, down from $15. While low end softness and the government shutdown have outsized impacts on select service brands, the firm is also increasingly concerned about a K-shaped recovery weighing on corporate demand, the analyst tells investors. Following the last two weeks’ earnings reports, the firm is incrementally more cautious on the near-term RevPAR outlook among its lodging coverage, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLE:
- Apple Hospitality REIT downgraded to Neutral from Buy at BofA
- Hold Rating on Apple Hospitality REIT Amid Mixed Guidance and External Pressures
- Apple Hospitality REIT sees FY25 adjusted EBITDAre $435M-$444M
- Apple Hospitality REIT reports Q3 FFO 42c, consensus 40c
- APLE Upcoming Earnings Report: What to Expect?