Truist raised the firm's price target on Pebblebrook Hotel to $22 from $17 and keeps a Buy rating on the shares. Pebblebrook Hotel is viewed more positively after management's decision to host an NDR for the first time in seven years, which is interpreted as increased confidence in the hotel cycle outlook, supported by the company's conservative but credible communication style and experienced leadership team, the analyst tells investors in a research note.
