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Canaccord Genuity disclosed Summit Hotel Properties (NYSE:INN), boosting its price target to $20.00 earlier today

Yesterday Summit Hotel Properties (NYSE:INN) traded 0.76% higher at $17.96. The company’s 50-day moving average is $15.70 and its 200-day moving average is $16.75. The last stock close price is up -5.58% from the 200-day moving average, compared to the S&P 500 which has increased 0.02% over the same time. 112,869 shares of the stock were exchanged, down from an average trading volume of 869,569

Reporting a potential upside of 0.11%, Canaccord Genuity upped the target price of Summit Hotel Properties (NYSE:INN) to $20.00

Previously on 5/15/2017, Cantor Fitzgerald reported about Summit Hotel Properties (NYSE:INN) raised the target price from $0.00 to $18.00. At the time, this indicated a possible upside of 0.10%.

See Chart Below

Summit Hotel Properties (NYSE:INN)

Summit Hotel Properties has a 52 week low of $12.45 and a 52 week high of $19.39 with a P/E ratio of 17.31 The company’s market cap is currently $0.

In addition to Canaccord Genuity reporting its target price, a total of 10 firms have reported on the stock. The consensus target price is $13.40 with 3 firms rating the stock a strong buy, 5 firms rating the stock a buy, 1 firm rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Summit Hotel Properties (NYSE:INN)

Summit Hotel Properties, Inc. is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company's portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states. The Company's hotels are located in markets, such as business and corporate headquarters, retail centers, airports and tourist attractions. The Company's portfolio is located in urban and suburban markets. Based on total number of guestrooms, approximately 92% of the Company's portfolio is positioned in over 50 metropolitan statistical areas (MSAs), and approximately 96% is located within over 100 MSAs. Based on total number of guestrooms, approximately 99% of the Company's hotels operate under franchise brands owned by Marriott International, Inc., Hilton Worldwide, InterContinental Hotels Group, and an affiliate of Hyatt Hotels Corporation.

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