Hyatt Hotels Initiated With A Buy Rating (H)

Chicago based Hyatt Hotels (NYSE: H) was initiated with a BUY rating at Buckingham this afternoon with a $48 price target. Shares of Hyatt are under pressure today down nearly 2% or .74c to 40.78.

On November 3rd Hyatt released Q3 EPS of ex-items 6c vs. consensus 4c with revenue coming in $879M vs. consensus $858.61M and adjusted EBITDA $111M.

Hyatt (NYSE: H) recently sold it's Grand Tampa Bay property to a real-estate investor for $58 million. Hyatt expects hotel and airfare rates to rise in the next year.