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Fly News Breaks for December 13, 2019
HTHT
Dec 13, 2019 | 05:23 EDT
CLSA analyst Dylan Chu upgraded Huazhu Group to Buy from Outperform with a price target of $42, up from $41. The analyst is "impressed" with the company's vision to become the global number hotel group and its intermediate target of 10,000 hotels by end of 2022. The early positioning in upscale and luxury may afford Huazhu a three-to-five year lead as demand for domestic operators matures, Chu tells investors in a research note. He believes consolidation will accelerate, competition remains rational, and that Huazhu "holds ever stronger brand and product leadership."
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