Wells Fargo lowered the firm’s price target on Hyatt (H) to $170 from $172 and keeps an Overweight rating on the shares. Discussing the lodging space, the firm says that for Q4, it expects EBITDA beats across the board. FY25 guides likely reflect conservative RevPAR forecasts given elevated uncertainty, with solid unit growth bolstered by partnerships/conversions, Wells adds.
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