FMP
Playa Hotels & Resorts’ Recent Selloff Offers an Attractive Entry Point
May 23, 2023 5:02 PM - Davit Kirakosyan
Image credit: FMP
Oppenheimer analysts provided their views on Playa Hotels & Resorts (NASDAQ:PLYA), noting that the current valuation and recent selloff offer an attractive entry point.
Despite the challenges posed by currency headwinds, analysts believe that the core operations of the company continue to be robust, as indicated by its recent increase in guidance. The company revised its EBITDA guidance for 2023, raising it by $5 million to reach $275 million at the midpoint. This increase is mainly attributed to higher expectations for ADR.
The analysts believe the company also has a superior business model to full-service hotels, which should contribute to higher margins and growth than full-service lodging REITs even in a recessionary environment. The analysts maintained their Outperform rating and $14 price target on the stock.
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