Intercontinental Hotels Group (LON:IHG) Cut to “Underweight” at JPMorgan Chase & Co.

Intercontinental Hotels Group (LON:IHG) was downgraded by equities research analysts at JPMorgan Chase & Co. to an “underweight” rating in a report released on Thursday, Digital Look reports. They currently have a GBX 4,700 ($61.41) price target on the stock, up from their previous price target of GBX 4,350 ($56.84). JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 7.41% from the stock’s previous close.

Several other research analysts have also weighed in on IHG. Kepler Capital Markets restated a “reduce” rating on shares of Intercontinental Hotels Group in a research report on Monday. Royal Bank of Canada lowered shares of Intercontinental Hotels Group from a “sector perform” rating to an “underperform” rating in a research report on Thursday, July 18th. Numis Securities restated a “hold” rating on shares of Intercontinental Hotels Group in a research report on Friday, June 14th. UBS Group restated a “sell” rating and set a GBX 4,800 ($62.72) target price (up from GBX 4,700 ($61.41)) on shares of Intercontinental Hotels Group in a research report on Tuesday, August 13th. Finally, Berenberg Bank upped their price target on shares of Intercontinental Hotels Group from GBX 4,850 ($63.37) to GBX 5,300 ($69.25) and gave the company a “buy” rating in a report on Wednesday, May 15th. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of GBX 4,900 ($64.03).

IHG traded down GBX 91 ($1.19) on Thursday, hitting GBX 5,076 ($66.33). 150,178 shares of the company were exchanged, compared to its average volume of 648,968. The business’s fifty day moving average is GBX 5,265.64 and its 200 day moving average is GBX 5,041.47. Intercontinental Hotels Group has a fifty-two week low of GBX 4,052.63 ($52.95) and a fifty-two week high of GBX 5,770 ($75.40). The firm has a market capitalization of $9.27 billion and a P/E ratio of 21.99.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, KIMPTON, Hotel Indigo, EVEN HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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Analyst Recommendations for Intercontinental Hotels Group (LON:IHG)

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