JonesResearch lowered the firm’s price target on LuxUrban Hotels to $4 from $10 and keeps a Buy rating on the shares after the company reported EBITDA of $5.3M that missed the firm’s and the consensus estimate. Despite the miss, the firm believes a slower pace of acquisitions will help LuxUrban digest operational issues more efficiently and thinks the company is still in a position to grow, especially in NYC, where most of their properties are located.
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