InterContinental Hotels Group PLC (IHG) Earns Outperform Rating from Credit Suisse Group AG
InterContinental Hotels Group PLC (LON:IHG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse Group AG in a report issued on Friday. They presently have a GBX 3,550 ($46.34) price target on the stock. Credit Suisse Group AG’s price objective indicates a potential upside of 8.96% from the stock’s previous close.
A number of other research firms have also issued reports on IHG. Goldman Sachs Group Inc. lowered shares of InterContinental Hotels Group PLC to a “neutral” rating and dropped their target price for the stock from GBX 3,440 ($44.90) to GBX 3,090 ($40.33) in a report on Wednesday, June 22nd. Morgan Stanley lowered shares of InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and dropped their target price for the stock from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a report on Monday, September 26th. Panmure Gordon reaffirmed a “hold” rating and set a GBX 2,800 ($36.55) target price on shares of InterContinental Hotels Group PLC in a report on Tuesday, August 2nd. Bryan, Garnier & Co lowered shares of InterContinental Hotels Group PLC to a “sell” rating and upped their price objective for the company from GBX 2,650 ($34.59) to GBX 2,950 ($38.51) in a report on Tuesday, September 27th. Finally, Barclays PLC reissued an “equal weight” rating and issued a GBX 2,400 ($31.33) price objective on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 2,871.42 ($37.48).
Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 3258.00 on Friday. The company’s market cap is GBX 7.43 billion. 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 company’s 50-day moving average is GBX 3,248.92 and its 200-day moving average is GBX 3,059.79.
The firm also recently declared a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 1st will be given a dividend of GBX 22.60 ($0.30) per share. The ex-dividend date is Thursday, September 1st. This represents a dividend yield of 0.73%.
In other news, insider Solomons,Richard sold 55,782 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of GBX 3,078 ($40.18), for a total transaction 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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