Shares of H World Group (HTHT) surged 5.63% in pre-market trading on Wednesday after Morgan Stanley upgraded the stock to Overweight from Equalweight.
Analysts at Morgan Stanley raised their rating on the Chinese hotel group, citing improving fundamentals and a positive industry outlook. They increased their price target on HTHT to $43.89, implying further upside from current levels.
The upgrade from the Wall Street firm sent H World Group shares soaring in early trading, adding to the stock's recent momentum. HTHT has now risen over 20% year-to-date as travel rebounds in China following the easing of COVID-19 restrictions.
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