BofA raised the firm’s price target on Hilton to $225 from $215 and keeps a Buy rating on the shares after the company announced the bolt-on acquisition of Graduate Hotels for $210M in cash. Hilton has historically focused on organic growth, so any M&A is notable, says BofA, which thinks this deal is “unique and attractive” given that it is valuation and fee accretive out of the box, can ultimately accelerates Hilton’s unit growth and pipeline and is also accretive to RevPAR.
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