Business Travel May Be Back, Mostly?

• B.Riley maintained its Neutral rating on Ashford Hospitality but lowered its price target from $12 to $9.
• The Heard on the Street Column from the Wall Street Journal today focused on business travel, a positive article on how it is back with the potential to be better than ever.
• A company called CorpHousing Group Inc., which is engaged in the short-term rental of hotel units to guests across major metropolitan cities in the US, priced an IPO of 3,375,000 shares.

The DJIA rose 151 points, Nasdaq was up 81, the S&P 500 was up 17 points and the 10-year treasury yield was down .06 to 2.79%. Lodging stocks were mixed on the day. VCSA was the big gainer again, up another 9%, while HT was up 6%. B.Riley maintained its Neutral rating on Ashford Hospitality but lowered its price target from $12 to $9. The Heard […]