MLV & Co Sees Strong Beat And Positive 2015 Outlook For Summit Hotel Properties

In a report published Tuesday, MLV & Co analyst Ryan Meliker reiterated a Buy rating and $15.00 price target on Summit Hotel Properties, Inc. (NYSE: INN).

In the report, MLV & Co noted, "INN reported very strong 4Q results and issued 2015 RevPAR guidance above what we believe were already elevated expectations. With the stock up 8.1% YTD, we believe expectations for 4Q results and the 2015 outlook were high heading into this print. However, with double-digit RevPAR growth, a solid FFO beat in 4Q, a 1Q outlook that also illustrates a double-digit RevPAR growth and full-year RevPAR guidance at the high-end of the peer group, we think INN met expectations and then some. While 2015 and 1Q15 FFO guidance is in-line with the Street, we expect investors to focus on the RevPAR metric, which should drive the stock higher."

Summit Hotel Properties closed on Monday at $13.45.