Wednesday, July 12, 2023
North America

Wells Fargo Ups Price Targets on Lodging Stocks

  • Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined.
  • Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST, and DHR, maintaining their ratings.
  • Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor’s House Hotel, while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia.

The DJIA ended the day up 86 points, a bit of a disappointment after this morning. Nasdaq was up 158, the S&P 500 rose 33 points and the 10-year treasury yield plunged -.12 to 3.86%. Lodging stocks for the most part were lower on the day. SOHO was the big mover, up 13% while MAR traded up to a new high before […]