Los Angeles votes for minimum wage hike for tourism workers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 16 2025
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Source: SeekingAlpha
Los Angeles Minimum Wage Proposal: The Los Angeles City Council has approved a plan to raise the minimum wage for tourism workers to $30 per hour by 2028, with gradual increases starting at $22.50 in 2025, amidst concerns from the hotel industry about potential job losses and economic impact.
Industry Opposition: The American Hotel and Lodging Association criticized the decision, arguing it could harm the struggling tourism sector and lead to job cuts, prompting a second vote on the proposal due to its non-unanimous approval.
Analyst Views on BEDZ
Wall Street analysts forecast BEDZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BEDZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 32.951
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Current: 32.951
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
