Barclays lowered the firm’s price target on Choice Hotels to $121 from $122 and keeps an Underweight rating on the shares post the Q2 report. Choice reaffirmed its targeted EBITDA growth of 10% in 2024, even in a flat to down RevPAR growth environment, which highlights the resilience of its franchise-only model, the analyst tells investors in a research note. However, this “still feels like a stretch to us,” says the firm.
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