Credit Suisse Group Lowers InterContinental Hotels Group PLC (IHG) to Neutral
InterContinental Hotels Group PLC (LON:IHG) was downgraded by stock analysts at Credit Suisse Group to a “neutral” rating in a report released on Monday. They presently have a GBX 4,600 ($58.61) price target on the stock, up from their previous price target of GBX 4,500 ($57.33). Credit Suisse Group’s price target suggests a potential upside of 4.66% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Deutsche Bank AG restated a “hold” rating on shares of InterContinental Hotels Group PLC in a research report on Thursday, June 8th. Barclays PLC restated an “equal weight” rating and set a GBX 4,000 ($50.96) price objective on shares of InterContinental Hotels Group PLC in a research report on Thursday, April 27th. Beaufort Securities restated a “buy” rating on shares of InterContinental Hotels Group PLC in a research report on Monday, May 8th. Morgan Stanley downgraded InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and raised their price objective for the stock from GBX 3,800 ($48.41) to GBX 4,300 ($54.78) in a research report on Thursday. Finally, J P Morgan Chase & Co raised their price objective on InterContinental Hotels Group PLC from GBX 3,265 ($41.60) to GBX 3,415 ($43.51) and gave the stock an “underweight” rating in a research report on Friday, February 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. InterContinental Hotels Group PLC currently has an average rating of “Hold” and a consensus target price of GBX 3,602.14 ($45.89).
Shares of InterContinental Hotels Group PLC (IHG) traded down 0.88% during mid-day trading on Monday, hitting GBX 4395.00. The stock had a trading volume of 501,202 shares. The firm’s market capitalization is GBX 8.28 billion. The stock’s 50-day moving average is GBX 4,334.96 and its 200-day moving average is GBX 4,019.69. InterContinental Hotels Group PLC has a 1-year low of GBX 2,653.93 and a 1-year high of GBX 4,492.00.
In other InterContinental Hotels Group PLC news, insider Richard Solomons sold 31,000 shares of InterContinental Hotels Group PLC stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of GBX 4,413 ($56.22), for a total value of £1,368,030 ($1,742,935.41).
About InterContinental Hotels Group PLC
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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