What To Know About Barclays's Upgrade of Park Hotels & Resorts

Benzinga ·  Nov 6, 2023 12:00

Barclays upgraded its rating of Park Hotels & Resorts (NYSE:PK) to Overweight with a price target of $19.00, changing its price target from $16.00 to $19.00.

Shares of Park Hotels & Resorts are trading up 1.82% over the last 24 hours, at $14.02 per share.

A move to $19.00 would account for a 35.52% increase from the current share price.

About Park Hotels & Resorts

Park Hotels & Resorts owns upper-upscale and luxury hotels with 26,373 rooms across 41 hotels in the United States. Park also has interests through joint ventures in another 2,656 rooms in four U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and many of its lower-quality U.S. hotels to focus on high-quality assets in domestic gateway markets.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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