Credit Suisse Group Downgrades InterContinental Hotels Group PLC (IHG) to Neutral

InterContinental Hotels Group PLC (LON:IHG) was downgraded by stock analysts at Credit Suisse Group to a “neutral” rating in a research note issued to investors on Monday. They presently have a GBX 4,600 ($58.19) target price on the stock, up from their previous target price of GBX 4,500 ($56.93). Credit Suisse Group’s target price would suggest a potential upside of 3.74% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Deutsche Bank AG restated a “hold” rating on shares of InterContinental Hotels Group PLC in a research report on Thursday, June 8th. Barclays PLC restated an “equal weight” rating and set a GBX 4,000 ($50.60) price objective on shares of InterContinental Hotels Group PLC in a research report on Thursday, April 27th. Beaufort Securities restated a “buy” rating on shares of InterContinental Hotels Group PLC in a research report on Monday, May 8th. Morgan Stanley downgraded shares of InterContinental Hotels Group PLC from an “equal” rating to an “underweight” rating and boosted their price objective for the company from GBX 3,800 ($48.07) to GBX 4,300 ($54.40) in a research report on Thursday. Finally, J P Morgan Chase & Co boosted their price objective on shares of InterContinental Hotels Group PLC from GBX 3,265 ($41.30) to GBX 3,415 ($43.20) and gave the company an “underweight” rating in a research report on Friday, February 24th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. InterContinental Hotels Group PLC presently has an average rating of “Hold” and a consensus target price of GBX 3,602.14 ($45.57).

Analyst Recommendations for InterContinental Hotels Group PLC (LON:IHG)

Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 4373.9805 on Monday. InterContinental Hotels Group PLC has a 52-week low of GBX 2,525.00 and a 52-week high of GBX 4,492.00. The company’s market capitalization is GBX 8.24 billion. The company’s 50-day moving average price is GBX 4,329.58 and its 200-day moving average price is GBX 4,005.22.

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In related news, insider Richard Solomons sold 31,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of GBX 4,413 ($55.83), for a total value of £1,368,030 ($1,730,588.24).

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LSE:IHG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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