Hyatt price target raised to $147 from $136 at Bernstein

Bernstein analyst Richard Clarke raised the firm’s price target on Hyatt to $147 from $136 and keeps an Outperform rating on the shares. The Q2 results were a strong for global hotel names as travel demand remains strong, the analyst tells investors in a research note. “In a decelerating world however, hotels are, at best, fully valued,” says the firm. It moved Hyatt back to its top pick in the sector, viewing the post-earnings selloff as an entry point. Hyatt remains the fastest RevPAR growth business trading at an “unwarranted discount,” contends Bernstein.