InterContinental Hotels Group PLC (IHG) Price Target Cut to GBX 3,900 by Analysts at Citigroup Inc.
InterContinental Hotels Group PLC (LON:IHG) had its price target dropped by equities research analysts at Citigroup Inc. from GBX 4,400 ($56.83) to GBX 3,900 ($50.37) in a research note issued to investors on Tuesday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s target price suggests a potential upside of 2.82% from the company’s current price.
IHG has been the topic of several other research reports. Barclays PLC reissued an “equal weight” rating and set a GBX 4,000 ($51.66) target price on shares of InterContinental Hotels Group PLC in a research report on Thursday, July 27th. Liberum Capital reissued a “hold” rating and set a GBX 4,600 ($59.41) target price on shares of InterContinental Hotels Group PLC in a research report on Tuesday, August 8th. J P Morgan Chase & Co boosted their target price on InterContinental Hotels Group PLC from GBX 3,415 ($44.10) to GBX 3,450 ($44.56) and gave the company an “underweight” rating in a research report on Monday, July 31st. Berenberg Bank reissued a “hold” rating on shares of InterContinental Hotels Group PLC in a research report on Wednesday, August 23rd. Finally, Bryan, Garnier & Co reissued a “sell” rating and set a GBX 3,520 ($45.46) target price on shares of InterContinental Hotels Group PLC in a research report on Thursday, August 24th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. InterContinental Hotels Group PLC presently has a consensus rating of “Hold” and an average price target of GBX 3,783.81 ($48.87).
InterContinental Hotels Group PLC (IHG) traded down 0.32% during mid-day trading on Tuesday, hitting GBX 3781.00. The stock had a trading volume of 276,449 shares. InterContinental Hotels Group PLC has a 12 month low of GBX 2,957.20 and a 12 month high of GBX 4,492.00. The stock’s 50-day moving average price is GBX 4,028.00 and its 200-day moving average price is GBX 4,161.43. The stock’s market cap is GBX 7.41 billion.
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In related news, insider Richard Solomons sold 31,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of GBX 4,413 ($56.99), for a total transaction of £1,368,030 ($1,766,795.82).
InterContinental Hotels Group PLC Company Profile
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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