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UPDATE: Nomura Raises PT to $44 on Hyatt Hotels Corporation on Strong Domestic Trends

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Nomura maintained Hyatt Hotels Corporation (NYSE: H) with a Neutral rating and raised the price target from $40.00 to $44.00.

Nomura commented, "We are boosting our global RevPAR outlook to +5.5%, reflecting strong domestic trends (+6.5%) and weaker trends in Asia (+4%-5%), and Europe (+2-3%). In addition, we are lowering our SG&A outlook to reflect cost savings implemented at the company late last year ($16m). As a result, our EBITDA margin improves to 26.5%, up ~90bp from last year. Our 2013 EBITDA estimate increases by $30m to $695m. Our 2014 EBITDA estimate also increases to $771m, from $760m."

Hyatt Hotels Corporation closed at $41.82 on Wednesday.

Posted-In: NomuraAnalyst Color Price Target Analyst Ratings

 

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