Jefferies upgraded Xenia Hotels to Buy from Hold with a price target of $18, up from $14. The analyst believes the company’s recent renovations will “bear outsized” EBITDA upside upon stabilization, which is not fully reflected in consensus or rhea stock’s valuation. The output of falling leverage and capital returns will drive a 20% increase in 2024 dividends, which should progress higher going forward, the analyst tells investors in a research note.
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