Hyatt price target lowered to $153 from $160 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Hyatt (H) to $153 from $160 and keeps an Equal Weight rating on the shares. The firm said on Friday that the company’s Q3 saw weaker underlying net rooms growth on unexpected attrition & delayed development. Mrogan Stanley tweaks estimates to reflect softer development backfilled by the Grupo Pinero deal.