06:05 AM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target of $157, on an EV/EBITDA of 15.1x, within H's trading range of 7x-15x. We lift our 2024 EPS to $3.81 from $3.48 and 2025's to $4.62 from $4.24. H posts Q1 adj-EPS of $0.71, $0.24 below consensus. Revenue of $1,714M (+2.0% Y/Y) was $7M above consensus. Adj-EBITDA fell 6.0% Y/Y to $252M vs. $303M consensus, with margin at 14.7%. Comparable RevPAR rose 5.5% Y/Y to $131.86, driven by occupancy (+2.2 pts to 65.2%) and average daily rate (+2.0% to $202.33), with net fee revenue up 12.7%. H saw higher demand across segments, with revenue for leisure transient up 7%, group room up 6%, and business transient up 6%. H raised its 2024 guidance for capital returns by $250M while reaffirming its outlook for both RevPAR and net unit growth. We also note H's strong growth in loyalty members (+22%), Mr & Mrs Smith properties (~1,000 in 2024), and the recent IPO of Juniper Hotels (H's stake valued at $475M). Despite the strong start to the year, we keep our Hold view as H's valuation appears full.