Hilton price target raised to $240 from $210 at Evercore ISI

Evercore ISI analyst Duane Pfennigwerth raised the firm’s price target on Hilton (HLT) to $240 from $210 and keeps an In Line rating on the shares. The firm is adjusting estimates for its asset-light lodging brand coverage, noting “slight tweaks” to Q3 estimates, as slightly softer Q3 domestic RevPAR is offset by better Europe and Asia Pacific ex-China performance, and telling investor that it is taking “a more conservative view” on Q4, citing a less favorable calendar, short-term disruption at some key assets and slower growth in China.