Evercore ISI upgraded Hilton Worldwide Holdings (HLT) to "Outperform" from "In Line." The firm also raised its price target for HLT to $370, up from $350.
Evercore ISI cited Hilton's strength in its midscale brands as a key reason for the upgrade. The firm believes Hilton is well-positioned for the post-summer travel season.
Hilton's portfolio is gaining market share. Its rooms under construction represent 24% of the U.S. total. This compares to its existing 15% share of the market supply.
Evercore ISI described Hilton as a "high-quality earnings compounder."