Hyatt price target raised to $128 from $119 at Barclays

Barclays raised the firm’s price target on Hyatt to $128 from $119 and keeps an Equal Weight rating on the shares. The analyst says softer RevPAR against stronger net unit growth equates to a neutral near-term outlook for the U.S. lodging group, while valuation multiples have expanded. The firm remains selective on stocks until RevPAR shows signs of bottoming.