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Fly News Breaks for June 14, 2016
H
Jun 14, 2016 | 08:20 EDT
As noted earlier, Wells Fargo downgraded Hyatt to Market Perform from Outperform. The firm thinks that the stock lacks near-term catalysts as it does not expect the company to aggressively look to sell its assets. Additionally, the firm cut its industry 2016 RevPAR growth outlook by 50-100 basis points, and it believes that "the difficult operating environment" is pressuring the sector's asset prices.
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