JPMorgan initiates Wyndham Hotels stock with overweight rating

Published 23/06/2025, 08:20
JPMorgan initiates Wyndham Hotels stock with overweight rating

Investing.com - JPMorgan initiated coverage on Wyndham Hotels (NYSE:WH) with an overweight rating and set a price target of $101.00 on Monday. According to InvestingPro data, Wyndham currently trades at a P/E ratio of 18.58x and boasts impressive gross profit margins of 67.44%.

The investment bank highlighted Wyndham as "one of the best relative values in Lodging" at its current valuation of 10 times 2026 estimated EV/EBITDA, noting this represents a discount to both its historical average and larger competitors. The company maintains a healthy 2.07% dividend yield and has shown consistent dividend growth.

JPMorgan pointed out that Wyndham’s current valuation is approximately 2 times below its historical average and 4-7 times below larger-cap peers Hilton and Marriott, despite all three companies growing fiscal year 2025 EBITDA at similar rates of 6-7%.

The firm also observed that Wyndham trades at a 1 times discount to Choice Hotels (NYSE:CHH), even though Choice shows weaker net rooms and adjusted EBITDA growth compared to Wyndham.

While acknowledging Wyndham’s 4% fiscal year 2025 estimated net unit growth falls short of Hilton and Marriott’s 5-7%, JPMorgan argued the current 4-7 times valuation gap is excessive and calculated that each 1 times multiple increase represents approximately $11 per share in value.

In other recent news, Wyndham Hotels & Resorts Inc. announced its financial results for the first quarter of 2025, reporting stable growth despite a slight revenue miss. The company achieved an earnings per share (EPS) of $0.86, meeting expectations, while revenue reached $316 million, slightly below the forecasted $320.1 million. Wyndham highlighted a 9% growth in adjusted EBITDA and a global system growth of 4%, with a 5% increase in its pipeline. The company’s focus on technology and international expansion was emphasized as a key factor for future growth. Analysts from firms such as Goldman Sachs and Baird noted the company’s resilience and strategic positioning in the hospitality sector. Additionally, Wyndham projected a global RevPAR range between -2% and +1% for the year, with fee-related revenues expected to be between $1.45 billion and $1.49 billion. The company remains committed to its long-term growth strategy, aiming for a 3% to 5% net room growth.

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