Stifel raises PTs on Wyndham Hotels and Hyatt Hotels

Wyndham Hotels & Resorts

26/11/2024 12:59

** Brokerage Stifel raises target prices on Wyndham Hotels
and Resorts  WH.N  and Hyatt Hotels  H.N  
    ** Says WH has a capital-light business model with largely
recurring and high-margin streams of fee revenue, which makes it
highly free cash flow generative
    ** Says H has multiple levers of growth with a quality
portfolio of brands and the largest relative pipeline, which
should result in some of the highest unit growth in the sector
    ** New PTs represent a 9.5% upside to WH's last close and
1.75% downside to H's last close
    ** Up to last close, WH up 21.49% and H up ~23% YTD
             Company                                
                                   New   Old PT     
                               PT                   Rating 
                                                    
                                                    
 Wyndham Hotels and Resorts    $107     $92         Buy
 Hyatt Hotels                  $157.5   $145.5      Hold
 
 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))