Hilton Worldwide (HLT) PT Raised to $215 at Baird

Baird analyst Michael Bellisario raised the price target on Hilton Worldwide (NYSE: HLT) to $215.00 (from $212.00) while maintaining a Outperform rating.

The analyst commented: "Maintaining Outperform rating, increasing price target to $215. Hilton's 1Q24 earnings were better than expected despite softer RevPAR growth domestically. The near-term fundamental outlook is relatively unchanged, in our view, and continued momentum with signings, starts, and openings is a positive, especially given that net unit growth should remain a bigger driver for earnings (and the valuation multiple). Estimates are moving higher (impacted a bit by incremental FX headwinds), fees and earnings are growing above algorithm, net unit growth is accelerating, and brand and loyalty benefits/synergies are increasing."

You May Also Be Interested In

• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August