Wyndham Hotels price target lowered to $98 from $101 at Truist

Truist lowered the firm’s price target on Wyndham Hotels (WH) to $98 from $101 and keeps a Buy rating on the shares after its Q3 results and guidance cut. The firm notes however that it does not see anything structurally wrong with the economy hotel segment, rather noting that the weakness looks temporary amid difficult hurricane-related y/y comparisons, soft international inbound, weakness in federal government customer demand, and bifurcation by customer with the upper-end U.S. materially outperforming the mid- and lower-ends, the analyst tells investors in a research note.