UPDATE: Goldman Sachs Starts Hyatt Hotels (H) at Neutral
- S&P 500, Nasdaq set records as tech, banks lead
- Texas Instruments (TXN) Tops Q4 EPS by 20c, Issues Solid Q1 Outlook
- Intuitive Surgical (ISRG) Tops Q4 EPS by 10c; $2B Accelerated Share Repurchase
- Seagate Technology (STX) Tops Q2 EPS by 30c
- After-Hours Stock Movers 01/24: (BOBE) (STX) (WDC) Higher; (NEWT) (MRCY) (CA) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial 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
- Alibaba (BABA) PT Raised to $148 at Deutsche Bank
- RBC Capital Starts Performance Food Group (PFGC) at Sector Perform
- RBC Capital Starts Sysco (SYY) at Sector Perform
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!