Credit Suisse Downgrades InterContinental Hotels Group PLC to Underperform (IHG)
InterContinental Hotels Group PLC (LON:IHG) was downgraded by equities research analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, Stock Ratings News reports. They currently have a GBX 1,810 ($30.33) target price on the stock, down from their previous target price of GBX 1,980 ($33.18). Credit Suisse’s target price would indicate a potential downside of 5.97% from the company’s current price.
A number of other firms have also recently commented on IHG. Analysts at Numis Securities Ltd upgraded shares of InterContinental Hotels Group PLC to a “buy” rating in a research note on Thursday. They now have a GBX 2,400 ($40.22) price target on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of InterContinental Hotels Group PLC in a research note on Thursday. They now have a GBX 1,880 ($31.51) price target on the stock. Finally, analysts at Berenberg Bank cut their price target on shares of InterContinental Hotels Group PLC from GBX 1,930 ($32.34) to GBX 1,900 ($31.84) in a research note on Wednesday. They now have an “equal weight” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of GBX 2,083.57 ($34.92).
Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 1925.00 on Friday. InterContinental Hotels Group PLC has a 52-week low of GBX 1729.9999 and a 52-week high of GBX 2053.00. The stock’s 50-day moving average is GBX 1986.43 and its 200-day moving average is GBX 1904.43. The company’s market cap is £5.043 billion.
The company also recently announced a dividend, which is scheduled for Friday, May 9th. Investors of record on Wednesday, March 19th will be paid a dividend of GBX 28.10 ($0.47) per share. This represents a dividend yield of 1.41%. The ex-dividend date is Wednesday, March 19th.
InterContinental Hotels Group PLC (LON:IHG) is a global hotel company, operating nine brands internationally.
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