InterContinental Hotels Group (LON:IHG) Price Target Raised to GBX 7,900 at Citigroup

Key Points

• Citigroup has raised its price target for InterContinental Hotels Group from GBX 7,800 to GBX 7,900, indicating a potential downside of 8.48% based on the stock's previous close.
• Deutsche Bank has reiterated a "hold" rating with the same price target of GBX 7,900, while overall ratings include two "sell," three "hold," and one "buy."
• InterContinental Hotels Group's shares opened at GBX 8,632 and have a market cap of £17.30 billion with a P/E ratio of 28.33.

InterContinental Hotels Group (LON:IHG - Free Report) had its price objective upped by Citigroup from GBX 7,800 ($104.90) to GBX 7,900 ($106.24) in a research report released on Tuesday, MarketBeat.com reports. Citigroup currently has a sell rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 7,900 ($106.24) price objective on shares of InterContinental Hotels Group in a report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of GBX 6,219 ($83.63).

InterContinental Hotels Group Stock Up 5.8%

Shares of IHG traded up GBX 502 ($6.75) on Tuesday, hitting GBX 9,182 ($123.48). 1,519,934 shares of the stock traded hands, compared to its average volume of 2,381,758. InterContinental Hotels Group has a one year low of GBX 7,070 ($95.08) and a one year high of £109.75 ($147.59). The company has a market capitalization of £18.41 billion, a PE ratio of 30.14, a P/E/G ratio of 1.69 and a beta of 0.98. The business has a 50 day simple moving average of GBX 8,546.40 and a 200 day simple moving average of GBX 8,851.34. The company has a debt-to-equity ratio of -162.30, a quick ratio of 1.35 and a current ratio of 0.85.

About InterContinental Hotels Group

Our presence IHG® Hotels & Resorts is a global hospitality company, with 19 hotel brands, one of the industry's largest loyalty programmes, over 6,300 open hotels in more than 100 countries, and a further 1,800 hotels in our development pipeline. Our ambition To deliver industry-leading growth in our scale, enterprise platform and performance, doing so sustainably for all stakeholders, including our hotel owners, guests and society as a whole. Our strategy To use our scale and expertise to create the exceptional guest experiences and owner returns needed to grow our brands in the industry's most valuable markets and segments.