JP Morgan initiates coverage on Hyatt with 'overweight' rating
JP Morgan initiates coverage on hotel operator Hyatt H.N with an "overweight" rating and a price target of $178
Shares of Hyatt up nearly 1% to about $159.8
Brokerage says H's owned hotel portfolio, valued at $2 bln excluding Playa, will likely be sold over time supporting co's capital returns
"Hyatt's high-end leisure and international exposure is attractive." - JP Morgan
Expects Hyatt’s U.S. RevPAR to increase, supported by demand from the FIFA soccer World Cup, the 2026 midterm elections, and America’s 250th Independence day
JP Morgan forecast FY26 RevPAR growth of 2.1% and net unit growth of 6.4%
Thirteen of 22 brokerages rate the stock "buy" or higher and nine "hold"; their median PT is $160.5; according to data compiled by LSEG
Including session's moves, shares up 1.8% YTD
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