Analysts call Hyatt shares risky; price climbs after IPO anyway
In separate interviews, Todd Jordan, managing director at Research Edge, and David Menlow, president of IPOfinancial.com, described shares of Hyatt Hotels Corp. as a bit risky. Their words of caution didn't have much effect on the post-IPO trading. Hyatt shares advanced 3% in trading after completion of the hotel chain's $1.09 billion IPO, the second-biggest initial public offering in the U.S. this year. Hyatt's successful debut on the New York Stock Exchange came as a relief to banks after three earlier IPOs had to be pulled at the last minute because of a lack of interest from investors.
Bloomberg | 11/05
This story published in AH&LA SmartBrief on 11/06/2009
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