Fly News Breaks for September 13, 2019
Sep 13, 2019 | 05:26 EDT
Goldman Sachs analyst Justin Kwok downgraded Huazhu Group to Neutral from Buy and lowered his price target for the shares to $40 from $43. The analyst expects macro uncertainties in the near term to keep a recovery in China hotel demand "on a slow path." However, positives from government policy easing could potentially kick-in by late 2019 or early 2020, Kwok tells investors in a research note. He cites valuation for the downgrade of Huazhu post the stocks' relative outperformance.
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