Pebblebrook Hotel price target raised to $15 from $14.50 at Wells Fargo

Wells Fargo raised the firm’s price target on Pebblebrook Hotel to $15 from $14.50 and keeps an Equal Weight rating on the shares. The firm’s revised lodging models now reflect its economic outlook for a recession in 1H24, which results in limited EBITDA growth in 2024 over 2023, the analyst tells investors in a research note.