Stifel raises PTs on Wyndham Hotels and Hyatt Hotels
** Brokerage Stifel raises target prices on Wyndham Hotels and Resorts WH.N and Hyatt Hotels H.N
** Says WH has a capital-light business model with largely recurring and high-margin streams of fee revenue, which makes it highly free cash flow generative
** Says H has multiple levers of growth with a quality portfolio of brands and the largest relative pipeline, which should result in some of the highest unit growth in the sector
** New PTs represent a 9.5% upside to WH's last close and 1.75% downside to H's last close
** Up to last close, WH up 21.49% and H up ~23% YTD
Company | New PT | Old PT | Rating |
Wyndham Hotels and Resorts | $107 | $92 | Buy |
Hyatt Hotels | $157.5 | $145.5 | Hold |
Reporting by Anshuman Tripathy
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