Truist downgraded Playa Hotels & Resorts (PLYA)( to Hold from Buy with an unchanged price target of $13. The firm says that while hardly a “done deal,” it sees a greater likelihood than not that a transaction with Hyatt (H) will be completed. However, Playa is “finally” trading near its fundamental value, the analyst tells investors in a research note. Truist cites valuation for the downgrade.
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