Evercore ISI raised the firm’s price target on Hyatt (H) to $175 from $155 and keeps an In Line rating on the shares. The firm is updating estimates across its lodging coverage, noting that better RevPAR in Q4 represented an improvement in underlying demand with hotel room night growth of 2% year-over-year more aligned with GDP after a year-plus of dislocation. While the firm believes Lodging REITs will “likely start the year off conservatively on top-line guidance,” it is also “open-minded” that demand could ultimately exceed initial view, the analyst tells investors in an earnings preview for the group.
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