UPDATE: Goldman Sachs Starts Hyatt Hotels (H) at Neutral
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - September 26, 2016 9:35 AM EDT)
Goldman Sachs initiated coverage on Hyatt Hotels (NYSE: H) with a Neutral rating and a price target of $50.
Analyst Stephen Grambling sad, "Given our prior background in retail, we view Hyatt as the “Nordstrom” of hotels with its “shoppers” (i.e., core customer) skewing towards the higher end and its “stores” (i.e., properties) positioned in great locations. Both companies also differentiated themselves with long-term investment horizons due to concentrated family ownership. We remain held back with a Neutral rating, given our view on the macro backdrop, which likely has a greater impact to Hyatt’s profitability given greater exposure to the more volatile high end and greater ownership of assets."
Shares of Hyatt Hotels closed at $50.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Starts Catalent (CTLT) at Neutral
- UPDATE: Oppenheimer Starts Paycom Software (PAYC) at Outperform
- Dougherty & Co Starts Quality Systems (QSII) at Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!