Holloway Lodging REIT initiated with "buy"

11/01/06 - Canaccord Adams

NEW YORK, November 1 (newratings.com) - Analysts at Canaccord Adams initiate coverage of Holloway Lodging REIT (HLR) with a "buy" rating. The target price is set to $6.50.

In a research note published yesterday, the analysts mention that the company is expected to generate robust earnings growth going forward in the already expanding Canadian lodging industry. Holloway Lodging has a substantial acquisition and development pipeline, with its potential near-term acquisitions and developments amount to $740 million, the analysts say.