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Janney Montgomery Scott raises Ashford Hospitality Prime to 'buy'

JanneyMontgomery Scott LLC analyst Tyler Batory raised his investment opinionof Ashford Hospitality PrimeInc. to "buy" from "neutral."

The analyst wrote in a research report: "We areupgrading shares of AHP to BUY. We have a positive view on several recent companyactions including a 33% increase to the dividend, $12M of interest savings fromrefinancing several loans, and the negotiation of a lower termination fee to AshfordInc. We do not think these are fully reflected in the stock price given ittrades at only 10.8x our 2017 EBITDA. We also believe AHP is well positioned tomake acquisitions and grow EBITDA, which should contribute to multipleexpansion in the future."