Mizuho Upgrades Wyndham Hotels (WH) to Outperform

Mizuho analyst Ben Chaiken upgraded Wyndham Hotels (NYSE: WH) from Neutral to Outperform with a price target of $97.00 (from $71.00).

The analyst comments "We are upgrading WH to Outperform from Neutral, based on our view that Economy RevPAR could accelerate beginning in March/April, with potentially more robust YoY growth in June/July. Our analysis of sequential seasonality suggests trends are already beginning to “outperform” expected seasonality. Economy outperformed normal seasonality (base period: 2016-2019) by an average of +220 bps from August-December vs. -350 bps in February-July (and +120 bps vs -110 bps for Midscale). We believe our view is unique/differentiated as current YoY RevPAR is still down 7-8% in Nov/Dec. We believe the market expects “easy comparisons” in 2Q, but is not pricing in any type of material positive inflection. For example, Street RevPAR for ’26 is 0-1% for FY26, vs our updated FY26 Economy RevPAR estimate of ~4%. Given the RevPAR inflection and the expected 4% NUG, we believe WH could trade around 12.5x vs the current 11x."

For an analyst ratings summary and ratings history on Wyndham Hotels click here. For more ratings news on Wyndham Hotels click here.

Shares of Wyndham Hotels closed at $78.58 yesterday.

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