InterContinental Hotels Group PLC (IHG) Receives Outperform Rating from Credit Suisse Group AG
InterContinental Hotels Group PLC (LON:IHG)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group AG in a report released on Friday. They currently have a GBX 3,550 ($46.34) price target on the stock. Credit Suisse Group AG’s target price indicates a potential upside of 9.23% from the company’s current price.
Several other equities analysts have also weighed in on IHG. Goldman Sachs Group Inc. lowered InterContinental Hotels Group PLC to a “neutral” rating and cut their price target for the company from GBX 3,440 ($44.90) to GBX 3,090 ($40.33) in a research note on Wednesday, June 22nd. Deutsche Bank AG cut their price target on InterContinental Hotels Group PLC from GBX 2,770 ($36.16) to GBX 2,660 ($34.72) and set a “hold” rating for the company in a research note on Tuesday, June 28th. JPMorgan Chase & Co. cut their price target on InterContinental Hotels Group PLC from GBX 2,865 ($37.40) to GBX 2,723 ($35.54) and set an “underweight” rating for the company in a research note on Wednesday, June 29th. Kepler Capital Markets restated a “hold” rating and issued a GBX 2,800 ($36.55) price target on shares of InterContinental Hotels Group PLC in a research note on Wednesday, July 6th. Finally, Panmure Gordon restated a “hold” rating and issued a GBX 2,800 ($36.55) price target on shares of InterContinental Hotels Group PLC in a research note on Tuesday, August 2nd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of GBX 2,871.42 ($37.48).
Shares of InterContinental Hotels Group PLC (LON:IHG) traded down 0.25% during midday trading on Friday, reaching GBX 3250.00. The company’s stock had a trading volume of 720,080 shares. The stock’s 50 day moving average price is GBX 3,247.62 and its 200 day moving average price is GBX 3,061.11. InterContinental Hotels Group PLC has a one year low of GBX 2,162.48 and a one year high of GBX 3,376.00. The firm’s market cap is GBX 7.41 billion.
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The company also recently announced a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 1st will be given a GBX 22.60 ($0.30) dividend. This represents a yield of 0.73%. The ex-dividend date is Thursday, September 1st.
In other InterContinental Hotels Group PLC news, insider Solomons,Richard sold 55,782 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of GBX 3,078 ($40.18), for a total value of £1,716,969.96 ($2,241,182.56).
About InterContinental Hotels Group PLC
InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
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