Intercontinental Hotels Group (NYSE:IHG) Stock Rating Upgraded by UBS Group

Key Points

• UBS Group upgraded IHG from “neutral” to “buy” and set a $188 price target, implying approximately 20.9% upside from the stock’s current price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a consensus rating of “Moderate Buy” and an average price target of $179.
• IHG shares opened at $155.47 and were trading down 2.9%; hedge funds and institutional investors own approximately 15.09% of the company.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) was upgraded by equities research analysts at UBS Group from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has a $188.00 target price on the stock. UBS Group's target price indicates a potential upside of 20.92% from the company's current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Zacks Research upgraded Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 26th. Sanford C. Bernstein upped their target price on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a report on Friday, May 15th. Finally, Jefferies Financial Group increased their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Intercontinental Hotels Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.00.

Intercontinental Hotels Group Trading Down 2.9%

IHG stock opened at $155.47 on Wednesday. Intercontinental Hotels Group has a 52-week low of $117.29 and a 52-week high of $175.89. The business has a 50-day simple moving average of $162.10 and a two-hundred day simple moving average of $151.63.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently bought and sold shares of IHG. Jones Financial Companies Lllp increased its holdings in shares of Intercontinental Hotels Group by 228.2% in the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company's stock worth $531,000 after buying an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Intercontinental Hotels Group by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company's stock worth $73,310,000 after acquiring an additional 16,461 shares in the last quarter. Russell Investments Group Ltd. grew its position in Intercontinental Hotels Group by 44.9% in the second quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company's stock worth $290,000 after acquiring an additional 780 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Intercontinental Hotels Group by 42.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company's stock valued at $50,000 after acquiring an additional 129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Intercontinental Hotels Group by 56.3% in the second quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company's stock valued at $108,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG's business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG's brand portfolio spans global and regional names designed to serve different traveler needs and market segments.

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