Morgan Stanley analyst Stephen Grambling upgraded Hyatt (H) to Overweight from Equal Weight with a price target of $168, up from $147. The firm likes the company’s sale of Playa real estate and commitment to selling owned and leased hotel assets. Hyatt also offers higher exposure to the “healthier” higher-end demand segments, which should drive upside to consensus expectations and a re-rate of the shares, the analyst tells investors in a research note.
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