Intercontinental Hotels Group Rating Lowered to Underperform at Jefferies Group (IHG)
Intercontinental Hotels Group (NYSE:IHG) was downgraded by equities researchers at Jefferies Group from a “hold” rating to an “underperform” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Intercontinental Hotels Group (NYSE:IHG) traded down 1.27% on Monday, hitting $32.55. 175,302 shares of the company’s stock traded hands. Intercontinental Hotels Group has a 52 week low of $26.62 and a 52 week high of $33.60. The stock’s 50-day moving average is $32.04 and its 200-day moving average is $30.06. The company has a market cap of $8.658 billion and a P/E ratio of 15.54.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Intercontinental Hotels Group from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. Analysts at MKM Partners initiated coverage on shares of Intercontinental Hotels Group in a research note to investors on Wednesday, December 18th. They set a “neutral” rating and a $35.00 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $1,302.63.
InterContinental Hotels Group PLC (NYSE:IHG) is a global hotel company, operating seven brands internationally.
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