Evercore ISI analyst Duane Pfennigwerth upgraded Park Hotels & Resorts to Outperform from In Line with a $20 price target. The firm, which has been “waiting for a pull-back” in shares after strong outperformance last year, notes the about 10% pullback quarter-to-date and believes the underlying dividend yield will be supportive. The firm also cites improving estimates and and “attractive valuation” for its upgrade.
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