Xenia Hotels downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Xenia Hotels to Neutral from Buy with a price target of $17, up from $16. The analyst cites valuation for the downgrade, saying the robust recovery in the stock brings the shares to level the firm finds much closer to fair value. Xenia’s prospects remain attractive, especially once it completes the transformative renovation and up-branding of the Hyatt Regency Scottsdale, which is currently weighing on total portfolio results, the analyst tells investors in a research note.