NEW YORK— Keeping to its contention that the organization remains bullish on lodging REITs, Morgan Stanley’s North American Equity Research division here has raised its price target on MeriStar Hospitality Corp. Company analysts reported they are increasing their 2002 FFO estimate from $2.12 to $2.19, and bumping up their 2003 estimate from $2.75 to $2.88. Additionally, they said they are increasing their 12-month price target, revising it to $19, based on a FFO per-share multiple of 6.5 using Morgan Stanley’s own 2003 estimates.
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