Hilton price target raised to $160 from $147 at Truist

Truist analyst Patrick Scholes raised the firm’s price target on Hilton to $160 from $147 and keeps a Hold rating on the shares after its Q4 earnings beat. Group booking demand is traditionally the laggard customer demand segment following a macro downturn, but the group strength reported in the quarter should help to set a proper baseline for 2023, the analyst tells investors in a research note. Pricing for new bookings are also up low double digits and lead volumes in January were at all-time highs, the firm adds.