Wells Fargo Decides to Upgrade La Quinta (NYSE:LQ). Will Other Analysts Follow Suit?

December 7, 2017 - By Ellis Scott

  Wells Fargo Decides to Upgrade La Quinta (NYSE:LQ). Will Other Analysts Follow Suit?

La Quinta (NYSE:LQ) Stock Upgrade

Wells Fargo boosted shares of La Quinta (NYSE:LQ), raising their rating to a “Buy” in analysts report made public on 6 October. Trading on the $2.15 billion market cap LQ will be interesting to observe today.

La Quinta Holdings Inc. (NYSE:LQ) Ratings Coverage

Among 11 analysts covering La Quinta Holdings (NYSE:LQ), 3 have Buy rating, 1 Sell and 7 Hold. Therefore 27% are positive. La Quinta Holdings has $23 highest and $12 lowest target. $17.57’s average target is -4.15% below currents $18.33 stock price. La Quinta Holdings had 31 analyst reports since August 20, 2015 according to SRatingsIntel. The rating was upgraded by Wells Fargo on Tuesday, November 1 to “Market Perform”. The company was upgraded on Friday, October 6 by Wells Fargo. The company was maintained on Monday, November 16 by Stifel Nicolaus. The rating was downgraded by Stifel Nicolaus to “Hold” on Thursday, February 25. The stock of La Quinta Holdings Inc. (NYSE:LQ) earned “Buy” rating by Deutsche Bank on Thursday, October 29. The stock has “Hold” rating by Stifel Nicolaus on Monday, October 23. As per Tuesday, September 22, the company rating was upgraded by Zacks. As per Tuesday, October 27, the company rating was initiated by Raymond James. The firm has “Market Perform” rating given on Thursday, October 29 by Wells Fargo. The firm earned “Sell” rating on Monday, September 26 by Goldman Sachs.

The stock increased 2.80% or $0.5 during the last trading session, reaching $18.33. About 1.59 million shares traded or 5.04% up from the average. La Quinta Holdings Inc. (NYSE:LQ) has risen 19.42% since December 7, 2016 and is uptrending. It has outperformed by 2.72% the S&P500.

La Quinta Holdings Inc. owns, operates, and franchises select-service hotels under the La Quinta brand. The company has market cap of $2.15 billion. As of December 31, 2016, the firm had 888 hotels with approximately 87,200 rooms under the La Quinta Inn, La Quinta Inn & Suites, and LQ Hotel brands in 48 states of the United States, as well as in Canada, Mexico, Honduras, and Colombia. It has a 70.5 P/E ratio. It serves the upper-midscale and midscale divisions.

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