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

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