Stifel analyst Simon Yarmak downgraded Hersha Hospitality to Hold from Buy with a price target of $10, up from $8.75, after the company announced it will be acquired by KSL Capital Partners for $10 per share in an all-cash transaction valued at $1.4B. The analyst believes Hersha ran a full process and therefore does not expect another bidder to emerge during the go-shop period.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on HT:
- Hersha Hospitality price target raised to $10 from $8 at Deutsche Bank
- Hersha Hospitality price target raised to $10 from $7 at BMO Capital
- Hersha Hospitality rises 56.3%
- Hersha Hospitality rises 56.8%
- Hersha Hospitality rises 58.1%
Questions or Comments about the article? Write to editor@tipranks.com