Service Properties price target lowered to $12 from $13 at B. Riley

B. Riley lowered the firm’s price target on Service Properties to $12 from $13 and keeps a Buy rating on the shares post the Q3 report. The analyst reduced 2024 and 2025 estimates to better reflect ongoing hotel renovation disruption and higher interest expense expectations for upcoming debt maturities. The firm keeps a Buy rating on the shares due to valuation.