Ahead of the Bell: Summit Hotel rating raised

　　Since plunging 37 percent since a downgrade from KeyBanc Capital Markets earlier this month, shares of Summit Hotel Properties now present investors with a buying opportunity, an analyst with the firm said Wednesday.

　　Analyst Dennis Forst, who downgraded the hotel investment company on Aug. 8, raised his rating to "Buy" from "Hold" and reiterated a $9 price target

　　While there are concerns about the spending power of the middle class in the U.S., Forst said, the bulk of Summit"s customers are short-stay business travelers who "will continue to travel and utilize Summit"s hotels barring a severe economic slowdown that grinds business travel to a halt."

　　It has extremely volatile in trading markets this month, with investors unsure about the direction of the economy. The Dow Jones industrial average has swung by more than 200 points nine days this month.

　　Shares of Summit Hotel Properties Inc. closed at $6.70 Tuesday, down from $8.51 just a week ago.(The Associated Press)