Hyatt price target raised to $124 from $112 at Baird

Baird analyst Michael Bellisario raised the firm’s price target on Hyatt to $124 from $112. The analyst said investors are looking through the near-term noise and clearly have bought into the longer-term story of an asset-lighter transformation, faster-than-peer net unit growth, and leverage to China reopening, among others, while Baird admits they have not been positive enough and have been chasing the stock higher while remaining on the sidelines.