InterContinental Hotels Group PLC (IHG) Coverage Initiated at HSBC
Investment analysts at HSBC started coverage on shares of InterContinental Hotels Group PLC (LON:IHG) in a research report issued to clients and investors on Monday. The brokerage set a “reduce” rating and a GBX 2,900 ($37.85) price target on the stock. HSBC’s price objective would indicate a potential downside of 11.59% from the company’s previous close.
A number of other brokerages have also recently issued reports on IHG. Goldman Sachs Group Inc. cut InterContinental Hotels Group PLC to a “neutral” rating and lowered 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. Credit Suisse Group AG upped their target price on InterContinental Hotels Group PLC from GBX 3,500 ($45.69) to GBX 3,550 ($46.34) and gave the stock an “outperform” rating in a report on Tuesday, September 13th. Panmure Gordon reaffirmed a “hold” rating and issued a GBX 2,800 ($36.55) target price on shares of InterContinental Hotels Group PLC in a report on Tuesday, August 2nd. Morgan Stanley upped their target price on InterContinental Hotels Group PLC from GBX 3,050 ($39.81) to GBX 3,300 ($43.08) and gave the stock an “equal weight” rating in a report on Monday, August 8th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a GBX 2,400 ($31.33) target price on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of GBX 2,879.85 ($37.59).
InterContinental Hotels Group PLC (LON:IHG) opened at 3274.00 on Monday. The stock’s 50 day moving average price is GBX 3,250.24 and its 200 day moving average price is GBX 3,064.74. The company’s market cap is GBX 7.46 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 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. The ex-dividend date of this dividend is Thursday, September 1st. This represents a yield of 0.73%.
In other InterContinental Hotels Group PLC news, insider Solomons,Richard sold 55,782 shares of the 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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