Park Hotels & Resorts (PK) PT Lowered to $13 at Citi

Citi analyst Smedes Rose lowered the price target on Park Hotels & Resorts (NYSE: PK) to $13.00 (from $16.00) while maintaining a Buy rating.

The analyst comments "We are updating our PK model to reflect actual 1Q25 results, as well as updated operating, RevPAR, and interest rate assumptions. As a result, 2Q25E operating FFO decreases to $0.55 from $0.57, and FY 2025E decreases to $1.93 from $2.03. We are lowering our target price to $13.00 from $16.00, reflecting 10-10.5x 2025E EBITDA. Our valuation now assumes shares trade in line with the group, but slightly below PK’s longer-term historical average."

You May Also Be Interested In

• York Space Systems (YSS) PT Lowered to $15 at Jefferies
• Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
• Textron Systems wins $231 million Navy contract for landing craft