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Fly News Breaks for January 7, 2019
H
Jan 7, 2019 | 07:46 EDT
As previously reported, BofA/Merrill downgraded Hyatt to Neutral from Buy and cut its price target to $75 from $83. Analyst Shaun Kelley is "lukewarm" on Hyatt's recent Two Roads acquisition saying there could be further contract risk if Hyatt doesn't execute carefully. Further, the departure of CFO Pat Grismer also shuts the door of a strong outsider advocate for the transition to a capital light business, the analyst wrote i a note to investors.
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