Oppenheimer analyst Tyler Batory downgraded Playa Hotels & Resorts (PLYA) to Perform from Outperform without a price target after the company entered into an agreement with Hyatt Hotels (H) under which an indirect wholly owned subsidiary of Hyatt will acquire all outstanding shares of Playa for $13.50 per share in cash.
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Read More on PLYA:
- Playa Hotels & Resorts downgraded to Neutral from Outperform at Macquarie
- Morning Movers: Aluminum, steel stocks gain on planned 25% tariffs on imports
- M&A News: Hyatt Set to Acquire Playa Hotels in $2.6B Deal
- Hyatt to fund 100% of Playa acquisition with new debt financing
- Playa Hotels & Resorts to be acquired by Hyatt for $13.50 per share in cash