Truist analyst C. Patrick Scholes lowered the firm’s price target on Hyatt to $164 from $168 and keeps a Buy rating on the shares. The firm is updating its model after the company’s Q2 results while also citing the recent Bloomberg report that the 1,641-room Hyatt Regency Orlando may be sold to private equity for $1B, which would “have real impact to Hyatt’s earnings”. With such a big potential disposition, considerable share repurchases and/or M&A may follow, the analyst tells investors in a research note.
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