Citi upgraded Hyatt (H) to Buy from Neutral with a price target of $167, up from $138. While the firm continues to anticipate a relatively tepid RevPAR environment, it also believes that several factors can drive share appreciation from current levels, the analyst tells investors in a research note. These include outsized net rooms growth in the mid-to-high single digits and a concentration at the upper end of the market, which is likely a positive in the current economic environment, including a strong position in the all-inclusive space, the firm added.
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