InterContinental Hotels Group PLC (LON:IHG)‘s stock had its “outperform” rating reissued by investment analysts at Credit Suisse Group AG in a note issued to investors on Friday. They currently have a GBX 3,550 ($46.34) target price on the stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 8.96% from the stock’s current price.
Several other research analysts also recently weighed in on the stock. Goldman Sachs Group Inc. downgraded shares of InterContinental Hotels Group PLC to an “underweight” rating and cut their target price for the company from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a research note on Monday, September 26th. Deutsche Bank AG cut their target price on shares of InterContinental Hotels Group PLC from GBX 2,770 ($36.16) to GBX 2,660 ($34.72) and set a “hold” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley downgraded shares of InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and cut their target price for the company from GBX 3,300 ($43.08) to GBX 3,100 ($40.46) in a research note on Monday, September 26th. JPMorgan Chase & Co. cut their target price on shares of InterContinental Hotels Group PLC from GBX 2,865 ($37.40) to GBX 2,723 ($35.54) and set an “underweight” rating for the company in a research note on Wednesday, June 29th. Finally, HSBC started coverage on shares of InterContinental Hotels Group PLC in a research note on Monday, September 19th. They issued a “reduce” rating and a GBX 2,900 ($37.85) target price for the company. Five equities 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 company has an average rating of “Hold” and an average target price of GBX 2,871.42 ($37.48).
Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 3258.00 on Friday. The firm’s market cap is GBX 7.43 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 stock’s 50 day moving average is GBX 3,248.92 and its 200 day moving average is GBX 3,059.79.
The business also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 1st will be issued a GBX 22.60 ($0.30) dividend. This represents a yield of 0.73%. The ex-dividend date is Thursday, September 1st.
In other InterContinental Hotels Group PLC news, insider Solomons,Richard sold 55,782 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of GBX 3,078 ($40.18), for a total value 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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