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BofA Double Upgrades Hyatt On Lodging Restoration: What You Want To Know – Hyatt Resorts Corp. (H)



Hyatt Resorts Company (NYSE:H) is a play on the restoration within the lodging sector, in line with BofA Securities.

The Hyatt Resorts Analyst: Shaun Kelley upgraded Hyatt Resorts from Underperform to Purchase whereas elevating the value goal from $85 to $110.

The Hyatt Resorts Takeaways: The rebound in Lodging C-Corps has been “quicker than we anticipated,” Kelley mentioned within the improve notice.

“We’re Purchase rated on Hyatt given the corporate’s restoration runway relative to different C-corps, mixed with restricted inflation/labor threat in its franchised property,” he wrote.

“Hyatt is making essential strides in its capital gentle transition, which ought to assist shut the valuation hole to friends as properly,” the analyst mentioned.

“Hyatt’s robust steadiness sheet additionally helps present draw back safety relative to a lot of our Lodging REITs,” he added.

Kelley additionally downgraded three full-service lodging REITs. He downgraded Park Resorts and Resorts Inc (NYSE:PK) from from Purchase to Impartial, Pebblebrook Resort Belief (NYSE:PEB) from Purchase to Impartial and Sunstone Resort Traders (NYSE:SHO) from Purchase to Underperform.

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