(RTTNews) - FBR Capital Markets upgraded its investment rating on shares of Gaylord Entertainment (GET:
News ), citing "a very attractive valuation."
The rating was raised to Market Perform from Underperform.
FBR said that it still has concerns about above-industry supply growth in the company's top markets. Still, the nearly 40% drop in the stock price in the past 7 weeks has made the valuation attractive and there are signs of life in group bookings.
FBR gave a price target of $17.
On Tuesday, Gaylord Entertainment said its third-quarter net loss widened to $12.90 million or $0.31 per share from $5.52 million or $0.14 per share in the prior year period. On average, 11 analysts polled by Thomson Reuters expected the company to report a loss of $0.11 per share for the quarter.
Revenues for the quarter declined to $199.10 million from $226.73 million in the comparable period. Analysts estimated revenues of $202.42 million for the quarter.
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by RTT Staff Writer
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