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Fly News Breaks for March 3, 2020
PLYA
Mar 3, 2020 | 08:13 EDT
Deutsche Bank analyst Chris Woronka lowered the firm's price target on Playa Hotels & Resorts to $11 from $13 and keeps a Buy rating on the shares. The stock continues to reflect concerns that the coronavirus will significantly impact U.S.-outbound travel, Woronka tells investors in a research note. Playa management made clear it has made significant progress on at least one asset sale, even though it wasn't able to provide more details on the earnings call, adds the analyst. Woronka sees one or more asset sales, at accretive multiples, as a key catalyst for the stock.
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