- 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.
BAML cools on Hyatt Hotels
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Symbol | Last Price | % Chg |
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H | - | - |
Hyatt Hotels Corporation |