InterContinental Hotels Group PLC (LON:IHG) Receives a Downgrade
Trading for shares of InterContinental Hotels Group PLC (LON:IHG) will be very interesting to watch, as Berenberg cut the rating for the stock to a Hold. In addition to the ratings downgrade, Berenberg analysts have given the shares a target price per share of GBX 2850.00 which is 9.45% higher than before.
From a total of 22 analysts covering InterContinental Hotels Group PLC (LON:IHG) stock, 10 rate it a ”Buy”, 2 a “Sell”, and 12 a ”Hold”. This means that 42% of the ratings are positive. The highest target price is GBX 50 while the lowest target price is GBX 32.14. The mean of all analyst targets is GBX 41.62 with a 4.51% above today’s (GBX 2603.82) stock price. InterContinental Hotels Group PLC was the topic of 42 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. AlphaValue maintained shares on December 3 with “Add” rating. Societe Generale maintained shares with “Hold” rating and GBX 2600 target share price in a report from a November 4. Credit Suisse maintained IHG stock in a recent report from November 24 with “Outperform” rating. Nomura maintained the rating on November 3. Nomura has a “Neutral” rating and a GBX 2698 price target on shares. Finally, JP Morgan maintained the stock with “Neutral” rating in a report issued on a November 17.
The stock increased 1.39% or GBX 35.82 on December 7, striking GBX 2603.82. Approximately 551,702 shares of stock traded hands. InterContinental Hotels Group PLC (LON:IHG) has declined 7.19% since May 11, 2015 and is downtrending. It has underperformed by 6.11% the S&P500.
InterContinental Hotels Group PLC is a hotel company. The company has a market cap of 6.15 billion GBP. The Firm franchises, leases, manages or owns over 4,800 hotels and approximately 710,000 guest rooms in nearly 100 countries. It has 18.46 P/E ratio. The Company’s portfolio of hotel brands include InterContinental Hotels & Resorts, HUALUXE Hotels and Resorts, Crowne Plaza Hotels & Resorts, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites and Kimpton Hotels & Restaurant.
According to Zacks Investment Research, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels.” Get a free copy of the Zacks research report on InterContinental Hotels Group PLC (IHG).