Compass Point lowered the firm’s price target on Park Hotels & Resorts to $20 from $25 and keeps a Buy rating on the shares. Q3 results missed the firm’s estimate by one cent and management withdrew 2024 guidance due to the ongoing union strike at its largest hotel Hilton Hawaii Village, notes the analyst, who is further reducing the firm’s 2024 FFO outlook by 11c while lowering its 2025 FFO by 7c.
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