Hyatt price target lowered to $180 from $185 at Susquehanna

Susquehanna lowered the firm’s price target on Hyatt (H) to $180 from $185 and keeps a Neutral rating on the shares. The firm updated its model following better than expected Q1 results. The beat versus the firm’s model was driven by stronger operating performance and a lower-thanexpected tax rate, offset by higher non-operating expense. The company’s guidance reflects stronger U.S. trends and continued core fee business momentum.