Hyatt price target lowered to $120 from $161 at Jefferies

Jefferies lowered the firm’s price target on Hyatt (H) to $120 from $161 and keeps a Hold rating on the shares. The firm, citing macro and market uncertainty and decelerating global travel, expects companies in the U.S. lodging group to lower RevPAR and fee guidance, particularly REITs. Among the group, the firm’s sole Buy ratings remain Wyndham Hotels (WH) for its “low-RevPAR, low-leverage franchise model” and “group-stable” Ryman Hospitality (RHP), the analyst noted.