NEW YORK— J.P. Morgan on Oct. 23 started coverage of Choice Hotels International with an overweight rating, citing the hotel franchisers prospects for sustainable earnings growth, reported Reuters. Analyst Harry Curtis wrote in a report that despite a “neutral” view on lodging, he believes Choice will be able to grow earnings through a combination of unit growth and share reduction. “Choice is the only company in the lodging space where we anticipate earnings and EBITDA (earnings before interest, taxes, depreciation and amortization) growth in 2002,” he added, according to the report. SOURCE: Reuters
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