Deutsche Bank Upgrades China Lodging Group (HTHT) to Buy; Bottomed Out and Turning Around

Deutsche Bank upgraded China Lodging Group (NASDAQ: HTHT) from Hold to Buy with a price target of $60.00 (from $35.00), saying the worst seems over.

Analyst Tallan Zhou commented, "We upgrade China Lodging from Hold to Buy and raise our target price to USD60 from USD35, implying upside potential of 25%. We significantly raise our earnings forecast for China Lodging to reflect the fact that the company has bottomed out and will likely see robust EBITDA growth in the next two years, thanks to its hotel product upgrade (more upgraded economy hotels and more mid- and upscale hotels). Although we keep our 2016 revenue/EBITDA largely unchanged, we raise our EBITDA forecasts for 2017 and 2018 by 30% and 43%, respectively."

For an analyst ratings summary and ratings history on China Lodging Group click here. For more ratings news on China Lodging Group click here.

Shares of China Lodging Group closed at $48.79 yesterday.

You May Also Be Interested In

• Krystal Biotech (KRYS) PT Raised to $204 at Stifel
• Cadence Designs (CDNS) PT Raised to $340 at KeyBanc
• National Bank Financial Downgrades Corus Entertainment (CJR/B:CN) (CJREF) to Underperform