BMO Capital raised the firm's price target on Apple Hospitality REIT to $16 from $14 and keeps a Market Perform rating on the shares as part of a broader research note on Gaming and Lodging names. World Cup anticipation has taken a back seat to strong RevPAR performance that suggests upside to Q2 results and outlooks even if World Cup upside fails to materialize, the analyst tells investors in a research note. At this point, World Cup expectations are fairly low and hotel prices have continued to moderate, moving lower at 70% of lodging REIT hotels since April, the firm added.
