Wedbush initiates Apple Hospitality with 'neutral'

Apple Hospitality REIT

03/06/2024 19:20

** Wedbush initiates coverage for Apple Hospitality REIT
 APLE.N  with a "neutral" rating and PT of $15
    ** PT represents about 4% upside to stock's last close 
    ** Wedbush expects company's diversified portfolio to defend
against market volatility in lodging REITs sector 
    ** Four of 10 brokerages rate stock "buy" or higher, six
"hold"; their median PT is $17
    ** Shares down about 12% YTD

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))