Ryman Hospitality initiated with a Buy at Jefferies

Jefferies initiated coverage of Ryman Hospitality (RHP) with a Buy rating and $130 price target The firm highlights the company’s “unique” hospitality assets within the long-booking-window group market, saying a post-COVID recovery room and incremental asset growth is likely. The long-term value of Ryman’s growing media and entertainment business and its unlock potential “is notable,” the analyst tells investors in a research note. Jefferies believes the shares are undervalued.