MKM Partners Initiates Coverage on Intercontinental Hotels Group (IHG)
Research analysts at MKM Partners began coverage on shares of Intercontinental Hotels Group (NYSE:IHG) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $35.00 price target on the stock. MKM Partners’ price target indicates a potential upside of 13.01% from the stock’s previous close. The analysts noted that the move was a valuation call.
Intercontinental Hotels Group (NYSE:IHG) traded up 1.07% during mid-day trading on Wednesday, hitting $31.30. The stock had a trading volume of 20,928 shares. Intercontinental Hotels Group has a 52 week low of $26.62 and a 52 week high of $31.43. The stock has a 50-day moving average of $30.14 and a 200-day moving average of $29.43. The company has a market cap of $8.326 billion and a price-to-earnings ratio of 14.59.
IHG has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 8th. They now have a $32.60 price target on the stock. Analysts at Societe Generale initiated coverage on shares of Intercontinental Hotels Group in a research note to investors on Thursday, September 19th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,333.79.
InterContinental Hotels Group PLC (NYSE:IHG) is a global hotel company, operating seven brands internationally.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.