Argus analyst John Staszak raised the firm’s price target on Hilton to $260 from $240 and keeps a Buy rating on the shares. The firm believes that a recovery in business and leisure travel will lead to increased room demand, along with higher RevPAR and management fees. Argus remains bullish long-term given the company’s solid development pipeline, new brands, and well-regarded loyalty program. It also expects earnings to benefit from the spinoff of the timeshare businesses and the sale of additional company-owned hotels.
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