Deutsche Bank reduced its rating on Wyndham Worldwide WYN from Buy to Hold while raising its price target from $55 to $57.
Deutsche Bank noted, "Despite a solid quarter which left the bull case thesis on the stock largely unchanged, we are downgrading shares of WYN to Hold from Buy. Our downgrade is solely predicated on our view that: 1) shares have had an elongated run and we see current valuation into staunch growth expectations as being fair, 2) the potential for moderating free cash flow exists, 3) margins appear to be harnessed, and 4) the risk reward has become more balanced."
Wyndham Worldwide closed at $53.30 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in