KeyBanc raised the firm’s price target on Xenia Hotels to $17 from $15 and keeps an Overweight rating on the shares. The higher target reflects the recapture from disruption and upside following renovations at the Hyatt Regency Scottsdale and continued recovery in markets that have underperformed coming out of the pandemic, the analyst tells investors in a research note. The firm increased both 2024 and 2025 adjusted EBITDA estimates for the lodging real estate investment trust group by an average of 2% to reflect recent operational and intra-quarter financing and investment activity, and industry-wide trends.
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