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BAML cools on Hyatt Hotels

Jan. 07, 2019 6:48 AM ETHyatt Hotels Corporation (H) StockHBy: Clark Schultz, SA News Editor
  • Bank of America Merrill Lynch drops Hyatt Hotels (NYSE:H) to a Neutral rating from Buy with the hotel operator's shift to a capital-light business seen as played out.
  • Analyst Shaun Kelly and team also point to risk with Hyatt's Two Roads acquisition.
  • "We continue to think Hyatt’s solid balance sheet, unit growth and valuation are attractive, and will revisit if the asset-light shift and share buybacks re-accelerate," reads the BAML note.
  • The new price objective on Hyatt is $75.

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