Barclays analyst Brandt Montour upgraded Wyndham Hotels & Resorts to Overweight from Equal Weight with a price target of $88, up from $80. The analyst makes Wyndham his most favored lodging C-corp. The company’s "bullish thesis" is finally starting to emerge, with its own balance sheet and resources more effectively curtailing room churn, accelerating net unit growth, without having to accelerate gross room growth, Montour tells investors in a research note. Looking into 2023, Wyndham’s outsized demand exposure to U.S. infrastructure-related spend is "especially attractive and unique," says the analyst.
Published first on TheFly
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