Citi lowered the firm’s price target on H World (HTHT) to $48 from $54 and keeps a Buy rating on the shares. The company’s Q3 revenue came in below expectations due to more store closures as it pursues an asset-light model, the analyst tells investors in a research note. The firm says that while management says room revenue decline has been narrowing, pressure remains due to lingering weakness in business travel demand.
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Read More on HTHT:
- H World price target lowered to $46 from $47 at BofA
- H World price target lowered to $48 from $53 at Benchmark
- H World Group Reports Steady Growth in Q3 2024
- H World reports Q3 EPS 6c vs. 41c last year
- H World sees Q4 revenue growth 1%-6% year-over-year from RMB5.28B
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
