Morgan Stanley raised the firm’s price target on Park Hotels & Resorts to $17 from $16 and keeps an Equal Weight rating on the shares. Lodging REITs generally exceeded expectations in Q2, but all the companies lowered their RevPAR outlook as trends were “softer than anticipated” in both June and July, the analyst tells investors. Guidance still includes acceleration in the second half of the year, which the firm believes could prove optimistic.
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