H World Group price target lowered to $53 from $64 at Benchmark

Benchmark analyst Fawne Jiang lowered the firm’s price target on H World Group to $53 from $64 and keeps a Buy rating on the shares. H World reported “solid” Q2 results, but guided below expectations for Q3 driven by heightened RevPAR pressure and while moderate RevPAR pressure was “well telegraphed due to a high comp last year,” the magnitude of most recent industry pressure “may have put markets on a high alert,” the analyst tells investors in an earnings recap. The firm has reduced FY24/FY25 estimates moderately to reflect conservatism and has lowered its target to $53 accordingly.