Analysts recently upgraded Orient-Express Hotels' (NUSE:OHE) small cap stock, which sent the values of the hotel company's shares higher.
According to Jags Report, analysts at MKM Partners raised the stock's status from "Neutral" to "Buy" on Wednesday, indicated by a report sent to the firm's clients. The hotel and travel company, which owns or has stake in 50 properties around the world, greatly benefited from the higher rating, as its stock had been trading lower for the last week.
The travel company's shares hit a high of $8.95 in early trading, up 5.67 percent from the previous session, compared with its current 52-week high of $11.10.
According to the news source, the company has been working to broaden its hotel base since 2010, when it purchased 41 deluxe resorts, one restaurant, six tourist trains and two river/canal cruise operations.
"We upgrade to Buy ahead of the quarter as we believe the stock now reflects any risk to full year estimates and we see several potential catalysts ahead, which we believe will unlock value in a relatively unique collection of high quality assets that have underperformed to-date," said analyst Chris Agnew.
As of 2:48 on July 18, the stock was 4.13 percent higher to $8.82.