From Financial Modeling Prep: 2024-12-24 12:13:00

Truist Securities analysts reaffirmed a Buy rating and $13 price target on Playa Hotels & Resorts (NASDAQ:PLYA), citing potential for a strategic transaction with Hyatt Hotels. Playa is in exclusive talks with Hyatt, who currently holds a 9.9% stake and brand ownership of some properties. The exclusivity period for discussions runs until February 3, 2025.

Playa’s openness to a sale is not surprising, given their belief that shares are undervalued. While a private buyer was initially expected, Hyatt’s interest in strategic assets aligns with a potential acquisition. Analysts believe completion of the transaction is likely, with Playa’s shares potentially worth $13 or more if the deal goes through.



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