Choice Hotels falls after JP Morgan cuts rating to 'underweight'

Choice Hotels International

19/07/2024 15:12

** Hotel franchisor Choice Hotels International's shares
 CHH.N  fall 1.4% to $127.66 in early market hours
    ** J.P. Morgan downgrades rating to "underweight" from
"neutral", maintains PT of $120
    ** Says industry data shows decline in co's Q2 planned
development pipeline sequentially, with overall total pipeline
contracting
    ** Four brokerages rate the stock "strongbuy", six "hold"
and two "sell"; their median PT is $127 - LSEG data
    ** Including session moves, stock has risen 12.7% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))