MKM Partners Upgrades Hyatt Hotels (H) to Buy, Top Pick

December 7, 2017 5:46 AM EST
Get Alerts H Hot Sheet
Price: $81.23 -0.79%

Rating Summary:
    5 Buy, 23 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 5 | New: 41
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MKM Partners upgraded Hyatt Hotels (NYSE: H) from Neutral to Buy with a price target of $79.00 (from $60.00).

Analyst Chris Agnew gives three reasons for the upgrade:

  1. given its strong exposure to business travel and its Group mix (80% and 35%, respectively).
  2. Hyatt's owned hotel mix (~55% of adjusted segment EBITDA) will also provide it more operating leverage and therefore earnings upside, than its peers and
  3. its planned sale of $1.5bn of assets is a further catalyst for investors.

The analyst also reiterates Buy on Marriott (NASDAQ: MAR) and Hilton Worldwide (NYSE: HLT) citing strong business travel trends leading into 2018.

For an analyst ratings summary and ratings history on Hyatt Hotels click here. For more ratings news on Hyatt Hotels click here.

Shares of Hyatt Hotels closed at $71.11 yesterday.

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