Jefferies analyst David Katz says a meeting with management reinforced his belief that Wyndham Hotels & Resorts' valuation discount to peers should continue to narrow as its "execution and track record become more prominent." The analyst believes "several misconceptions" are weighing on shares, including that the default notice equates to immediate lost earnings and that its unit growth is limited. Katz is most constructive on Wyndham among the lodging companies as he believes the stock has the "clearest path for outperformance." He keeps a Buy rating on Wyndham Hotels & Resorts with a $72 price target.