Sunday, 19 May 2024


Hyatt Hotels shares target raised to by Mizuho amid robust revenue By

ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Sharecare, Inc. Investors With Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm “

On Wednesday, Mizuho maintained a positive stance on Hyatt Hotels Corporation (NYSE:) shares, raising its price target to $204 from the previous $195, while keeping a Buy rating on the stock.

This adjustment follows Hyatt’s recent financial performance, which showed consolidated revenue of $1,714 million, surpassing both Mizuho’s projection of $1,642 million and the consensus estimate of $1,707.5 million.

Hyatt’s adjusted EBITDA for the quarter was reported at $252 million, which did not meet Mizuho’s expectation of $296.2 million or the Street’s forecast of $304 million.

The discrepancy was attributed to asset sales. Mizuho’s revised model now includes Hyatt’s new geographic segmentation and the realignment of its portfolio.

The most significant revision in Mizuho’s estimates is seen in the Managed and Franchised segment of Hyatt’s operations. The EBITDA estimates for this segment have been increased due to a stronger-than-anticipated flow-through experienced in the first quarter.

Mizuho’s approach to forecasting has also been refined, as they now provide a more detailed bridge from revenue to EBITDA for each operating segment.

The firm reasserted its Buy rating for Hyatt Hotels, signaling confidence in the company’s ongoing business strategy and performance. The new price target of $204 suggests Mizuho’s analysts expect the stock to have a favorable outlook moving forward.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Click Here to Read the Full Original Article at All News…