Hyatt rises as Raymond James upgrades to 'strong buy' after asset sale breakthrough

Raymond James Financial

01/07/2025 13:31

** Shares of Hyatt Hotels H.N climbs 3% to $143.46 premarket

** Raymond James raises rating to "strong buy" from "market perform"; PT unchanged at $165

** Brokerage upgrades rating after co agreed to sell real estate portfolio owned by Playa Hotels PLYA.O to Tortuga Resorts for $2 bln

** Adds that asset sale in uncertain market indicates co is making real progress on plan to focus more on managing hotels rather than owning them

** Average rating of 22 brokerages equivalent to 'hold'; median PT is $146.50 - data compiled by LSEG

** As of last close, stock down 11% YTD

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))