Citi analyst Smedes Rose upgraded Playa Hotels & Resorts to Buy from Neutral with a price target of $8, up from $7.25. The stock’s valuation is attractive, creating a positive risk/reward at this juncture, Rose tells investors in a research note. Playa shares have significantly underperformed year-to-date, and its 2023 will benefit from relatively easy comparisons in both Q1 and Q4, says the analyst. He views the recent refinancing of the company’s $1B debt as a positive as well.
Published first on TheFly
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