Raymond James analyst RJ Milligan upgraded Hyatt (H) to Strong Buy from Market Perform with a $165 price target following yesterday’s announcement that the company had reached an agreement to sell the entirety of its Playa owned real estate. While the company had signaled that they were making progress on asset sales, the transaction was sooner than expected, was for the entire portfolio and not just a portion of the assets, accelerates the timeline for $2B of asset sales that were expected by the end of 2027 and removes “a significant overhang on the stock,” the analyst tells investors.
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