Morgan Stanley analyst Praveen Choudhary downgrades GreenTree Hospitality Gr (NYSE:GHG) from Overweight to Equal-Weight and lowers the price target from $17 to $7.5.
Key Takeaways:
GreenTree Hospitality’s revenue rose 16% in the third quarter on new property openings, but revpar for existing hotels was down 1.8% year-on-year
Company looks undervalued compared with domestic rivals, but ranks stronger than international peer Accor
By Doug Young
Gainers
Singularity Future Technology Ltd. (NASDAQ: SGLY) shares rose 25.9% to settle at $5.01 on Thursday.
MedAvail Holdings, Inc (NASDAQ: MDVL) gained 24.4% to settle at $1.58.
Midway through trading Thursday, the Dow traded up 0.41% to 36,437.70 while the NASDAQ fell 0.57% to 15,102.56. The S&P also fell, dropping, 0.10% to 4,721.84.
Companies Reporting Before The Bell
• Jefferies Financial Group (NYSE:JEF) is estimated to report quarterly earnings at $1.34 per share on revenue of $1.90 billion.