Nomura Securities Maintains a 'Neutral' on Hyatt Hotels (H); Expect +7% 2012E RevPAR

May 4, 2012 11:47 AM EDT
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Price: $54.35 -1.74%

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Nomura Securities maintains a 'Neutral' on Hyatt Hotels (NYSE: H) price target of $43.00.

Analyst, Harry Curtis, said, "Group business for the balance of 2012 is up 4% year-over-year, in line with comments from HOT and MAR. Additional group business means that H will be able to drive higher ADRs in both the group and transient segments. Coupled with the benefit of last year’s renovations, we expect pricing and margin growth to accelerate. Owned and leased operating margins were up 220bps in 1Q, and we expect similar margin growth in 2013. Our 2012E EPS goes from $0.72 to $0.67. H trades at 11.4x/9.8x EV/EBITDA on our 2012/2013 estimates. We like H and would become more positive at a more attractive valuation."

For an analyst ratings summary and ratings history on Hyatt Hotels click here. For more ratings news on Hyatt Hotels click here.

Shares of Hyatt Hotels closed at $41.55 yesterday.

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