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Fly News Breaks for December 15, 2015
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Dec 15, 2015 | 06:21 EDT
Citi analyst Smedes Rose downgraded Hyatt Hotels to Neutral with a reduced price target of $54. The company is more group dependent relative to peers and has indicated low single-digit gains in group revenues on the books for 2016, the analyst points out. Rose does not expect meaningful expansion in Hyatt's valuation multiple.