Deutsche Bank raised the firm’s price target on Hersha Hospitality to $10 from $8 and keeps a Hold rating on the shares after the company agreed to be acquired and taken private by KSL Partners for $10 per share in an all cash transaction. The firm believes Hersha received a “fair to full valuation” based on its view that the lodging cycle has settled into an area where the likely range of outcomes for RevPAR growth is more narrow than it has been at any time since 2019.
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Read More on HT:
- Hersha Hospitality Trust to be Acquired by KSL Capital Partners
- Hersha Hospitality and KSL announce definitive merger agreement
- Hersha Hospitality Trust Announces Second Quarter 2023 Results
- HT Earnings this Week: How Will it Perform?
- Hersha Hospitality price target lowered to $8 from $9 at Barclays
