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UPDATE: Nomura Cuts PT to $40 on Hyatt Hotels on Earnings Outlook

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Nomura reiterated its Neutral rating on Hyatt Hotels (NYSE: H) and reduced its price target from $46 to $40.

Nomura commented, "We are lowering our earnings outlook on Hyatt for 4Q12E and 2013E owing to lower RevPAR and margins; 4Q to +3.7% from +6.5% and 2013 RevPAR declines to 4.4% from 6.1%. In 4Q, Hurricane Sandy will remove ~ 200bp of RevPAR and $6m of EBITDA. Our 2013E EBITDA declines to $657m from $753m, which reduces our target price to $40 from $46. On our revised estimates H trades at 10.5x 2012E and 9.4x 2013E EV/EBITDA, roughly 100bp below its peer group (MAR, HOT, CHH and HST)."

Hyatt Hotels closed at $34.00 on Tuesday.

Latest Ratings for H

DateFirmActionFromTo
Oct 2014MacquarieUpgradesNeutralOutperform
Sep 2014JP MorganMaintainsOverweight
Aug 2014Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for H
View the Latest Analyst Ratings

Posted-In: NomuraAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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