BUZZ-JP Morgan initiates coverage on Hyatt with 'overweight' rating

Reuters11-24
BUZZ-JP Morgan initiates coverage on Hyatt with 'overweight' rating

** JP Morgan initiates coverage on hotel operator Hyatt H.N with an "overweight" rating and a price target of $178

** Shares of Hyatt up nearly 1% to about $159.8

** Brokerage says H's owned hotel portfolio, valued at $2 bln excluding Playa, will likely be sold over time supporting co's capital returns

** "Hyatt's high-end leisure and international exposure is attractive." - JP Morgan

** Expects Hyatt’s U.S. RevPAR to increase, supported by demand from the FIFA soccer World Cup, the 2026 midterm elections, and America’s 250th Independence day

** JP Morgan forecast FY26 RevPAR growth of 2.1% and net unit growth of 6.4%

** Thirteen of 22 brokerages rate the stock "buy" or higher and nine "hold"; their median PT is $160.5; according to data compiled by LSEG

** Including session's moves, shares up 1.8% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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