Bilt bets on local businesses, hospitality and major sports franchises, expanding beyond residential rewards

Impact · against what's priced in

Bilt's expansion into B2B SaaS and loyalty platforms provides marginal utility for its partners, as the news does not address the core structural or cyclical headwinds currently suppressing the stock prices of Lowe's, Hyatt, and Constellation Brands.

H+0.10

Not in the price yet

The price assumes

Avoiding the full financial drag of the Chase Sapphire point transfer devaluation