UPDATE: Goldman Sachs Starts Hyatt Hotels (H) at Neutral
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a 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
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Jefferies Raises Price Target on ICON plc (ICLR) to $87.50; Reiterates Hold
- AMD (AMD) Q3 'Solid' - Jefferies
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!