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H Initiated at Buy By Buckingham Research

By Market News Video Staff, Monday, November 15, 12:15 PM ET

Hyatt Hotels (NYSE:H) shares are trading higher by 1.5% Monday, after it was initiated with a ‘buy’ rating by Buckingham Research.

Buckingham put a 12-month price target of $48 on the stock.

The hotel chain beat analyst estimates with its quarterly earnings report earlier in November.

Along with other companies that made initial public offerings relatively recently, Hyatt is a 1.45% holding of the First Trust US IPO Index Fund (AMEX:FPX).

Visa (NYSE:V) is the top holding in the fund, at 10.47%, followed by Philip Morris International (NYSE:PM), at 9.96% of the fund, and Time Warner Cable (NYSE:TWC) at 4.55% of the portfolio.

Find the right mix of model portfolios today at PortfolioChannel.com


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