InterContinental Hotels Group PLC (IHG) Stock Rating Reaffirmed by HSBC
InterContinental Hotels Group PLC (LON:IHG)‘s stock had its “reduce” rating reissued by stock analysts at HSBC in a research note issued to investors on Monday. They presently have a GBX 2,900 ($36.23) price objective on the stock. HSBC’s target price suggests a potential downside of 8.14% from the stock’s previous close.
Several other research firms also recently weighed in on IHG. Credit Suisse Group AG boosted their price target on shares of InterContinental Hotels Group PLC from GBX 3,500 ($43.73) to GBX 3,550 ($44.35) and gave the stock an “outperform” rating in a research note on Tuesday, September 13th. Morgan Stanley downgraded shares of InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and lowered their price target for the stock from GBX 3,300 ($41.23) to GBX 3,100 ($38.73) in a research note on Monday, September 26th. Panmure Gordon reissued a “hold” rating and issued a GBX 2,800 ($34.98) price target on shares of InterContinental Hotels Group PLC in a research note on Tuesday, August 2nd. Bryan, Garnier & Co cut shares of InterContinental Hotels Group PLC to a “sell” rating and boosted their price objective for the company from GBX 2,650 ($33.11) to GBX 2,950 ($36.86) in a research report on Tuesday, September 27th. Finally, Kepler Capital Markets cut shares of InterContinental Hotels Group PLC to a “reduce” rating and decreased their price objective for the company from GBX 3,074 ($38.41) to GBX 3,022.80 ($37.77) in a research report on Monday, October 24th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of GBX 2,920.32 ($36.49).
InterContinental Hotels Group PLC (LON:IHG) opened at 3157.00 on Monday. The company’s market cap is GBX 7.20 billion. InterContinental Hotels Group PLC has a 12 month low of GBX 2,162.48 and a 12 month high of GBX 3,376.00. The company has a 50-day moving average of GBX 3,167.86 and a 200 day moving average of GBX 3,011.81.
In other news, insider Richard Solomons sold 37,340 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of GBX 3,157 ($39.44), for a total value of £1,178,823.80 ($1,472,793.35).
InterContinental Hotels Group PLC Company Profile
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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