BMO Capital Downgrades Hilton Worldwide (HLT) to Market Perform

BMO Capital analyst Ari Klein downgraded Hilton Worldwide (NYSE: HLT) from Outperform to Market Perform with a price target of $88.00 (from $124.00).

The analyst comments "Coronavirus (COVID-19 virus) has wreaked havoc on travel, with restrictions in place throughout the world, airlines cutting capacity, and groups canceling events, resulting in meaningful demand deterioration. Reflecting the uncertainty, HLT has drawn down its entire $1.75B revolving credit facility in an effort to preserve financial flexibility. While HLT has a strong business model that will persevere and ultimately recover, we are reducing estimates and stepping to the sidelines given the uncertainty.

For an analyst ratings summary and ratings history on Hilton Worldwide click here. For more ratings news on Hilton Worldwide click here.

Shares of Hilton Worldwide closed at $77.70 yesterday.

You May Also Be Interested In

• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities
• New Street Research Upgrades Micron Technology (MU) to Buy