Hyatt price target raised to $160 from $145 at Macquarie

Macquarie raised the firm’s price target on Hyatt to $160 from $145 and keeps an Outperform rating on the shares. Hyat’s results were strong and its financials became simpler, the analyst tells investors in a research note. The firm expects a valuation re-rate, as well as a tightening valuation gap with franchisee peers.