BofA analyst Dany Asad lowered the firm’s price target on Park Hotels & Resorts to $16.50 from $17 and keeps a Neutral rating on the shares. The firm expects Q3 results to be within outlook ranges for C-corps in the Lodging sector and its tracker is unchanged with finalized September data, although the firm thinks the high end of outlooks may be difficult to achieve for some, the analyst tells investors. Overall, Q3 U.S. RevPAR was up year-over-year and ex-China remains a tailwind for the sector, the firm adds.
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