JPMorgan analyst Daniel Politzer initiated coverage of Hyatt (H) with an Overweight rating and $178 price target The firm believes the company’s multiple will re-rate higher and that its 2-4 times valuation discount to its larger-cap C-Corp peers will tighten. Hyatt’s “substantial” portfolio of owned hotels will likely be accretively sold over time and support ongoing capital return to shareholders, the analyst tells investors in a research note.
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