UPDATE: Goldman Sachs Downgrades Hyatt Hotels to Neutral, Keeps PT at $43
Goldman Sachs downgrades Hyatt Hotels (NYSE: H) as the company is not emulating other sector players with buyback/dividend stories.
Goldman Sachs notes, "Hyatt is a leader in one of our favorite industries – lodging. However, Marriott, Starwood and InterContinental (all Buy) are our preferred names in this compelling sector because not only do we get the benefits of sustained lodging outperformance (low supply, shift to room rate gains from occupancy as business travel remains solid and expenses in check) but they also have compelling capital allocation stories. Hyatt's potential for buyback or dividend is less clear."
H closed at $39.75 per share on Tuesday.
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