FBR Capital Markets upgraded its investment rating on shares of Gaylord Entertainment (GET), 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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