New Price Target - $12.43
Back on June 24 of 2013, I wrote an article suggesting that Sotherly Hotels (NASDAQ:SOHO) had 100% upside. Given the $4.22 closing price of SOHO that day, this implied a price target of $8.24 (after dividends). At $7.55 today, SOHO is approaching this target, but I believe it still has a lot of room to run. Its fundamentals have substantially improved over the past year so I am raising my price target to $12.43. The rest of this article will detail why.
Still Deep Value
SOHO has tripled over the past 3 years.
(click to enlarge)Chart provided by SNL Financial
This may raise concerns that it is getting expensive, but it remains...
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