Hyatt price target raised to $178 from $167 at Wells Fargo

Wells Fargo analyst Daniel Politzer raised the firm’s price target on Hyatt (H) to $178 from $167 and keeps an Overweight rating on the shares. Discussing Q3 for the lodging group, the firm says it expects RevPAR to be at the low-end of company guides, with mixed commentary on Q4 given weather/election disruption. Net unit growth remains strong, which continues to support premium valuations, but a lot is priced in, Wells adds.