InterContinental Hotels Group PLC (IHG) Coverage Initiated at HSBC
Analysts at HSBC initiated coverage on shares of InterContinental Hotels Group PLC (LON:IHG) in a research report issued on Monday. The firm set a “reduce” rating and a GBX 2,900 ($37.85) price target on the stock. HSBC’s price objective suggests a potential downside of 11.59% from the stock’s current price.
A number of other brokerages have also recently commented on IHG. Goldman Sachs Group Inc. cut InterContinental Hotels Group PLC to a “neutral” rating and dropped their price target for the stock from GBX 3,440 ($44.90) to GBX 3,090 ($40.33) in a research report on Wednesday, June 22nd. Credit Suisse Group AG boosted their price target 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 research report on Tuesday, September 13th. Panmure Gordon reissued a “hold” rating and issued a GBX 2,800 ($36.55) price target on shares of InterContinental Hotels Group PLC in a research report on Tuesday, August 2nd. Morgan Stanley boosted their price target 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 research report on Monday, August 8th. Finally, Barclays PLC reissued an “equal weight” rating and issued a GBX 2,400 ($31.33) price target on shares of InterContinental Hotels Group PLC in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. InterContinental Hotels Group PLC has an average rating of “Hold” and an average target price of GBX 2,879.85 ($37.59).
Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 3274.00 on Monday. The stock’s market capitalization is GBX 7.46 billion. InterContinental Hotels Group PLC has a 52-week low of GBX 2,162.48 and a 52-week high of GBX 3,376.00. The firm has a 50-day moving average price of GBX 3,250.24 and a 200-day moving average price of GBX 3,064.74.
The firm also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 1st will be paid a GBX 22.60 ($0.30) dividend. The ex-dividend date 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 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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