Service Properties Trust up on Wells Fargo upgrade

Service Properties Trust

19/03/2025 15:28

** Shares of Service Properties Trust SVC.O jump 18% to $2.94

** Wells Fargo raises SVC's rating to "overweight" from "underweight", raises PT to $4 from $2.50

** Over the next month, expect progress towards SVC's $1.1 billion in dispositions to be announced - brokerage

** Wells Fargo views the pitch of acquiring hotels unencumbered by management with all-in pricing below replacement as attractive

** SVC fell over 70% in 2024

 (Reporting by Juby Babu in Mexico City)

 ((Juby.Babu@thomsonreuters.com;))