Pebblebrook Hotel price target raised to $13 from $12 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Pebblebrook Hotel to $13 from $12 and keeps an Underweight rating on the shares. Lodging REITs generally exceeded expectations in Q2, but all the companies lowered their RevPAR outlook as trends were “softer than anticipated” in both June and July, the analyst tells investors. Guidance still includes acceleration in the second half of the year, which the firm believes could prove optimistic.