H World price target lowered to $48 from $54 at Citi

Citi lowered the firm’s price target on H World (HTHT) to $48 from $54 and keeps a Buy rating on the shares. The company’s Q3 revenue came in below expectations due to more store closures as it pursues an asset-light model, the analyst tells investors in a research note. The firm says that while management says room revenue decline has been narrowing, pressure remains due to lingering weakness in business travel demand.