InterContinental Hotels Group (LON:IHG) Given New GBX 8,000 Price Target at Citigroup

Key Points

• Citigroup raised its price target for InterContinental Hotels Group from GBX 7,900 to GBX 8,000 but maintains a "sell" rating, indicating a potential downside of 14.42% from previous closing prices.
• In addition to Citigroup, Deutsche Bank and JPMorgan Chase adjusted their ratings and target prices, with varying assessments of "hold" and "overweight" respectively.
• The stock currently has a consensus rating of "Hold" with a target price of GBX 7,199, while its recent trading price hit GBX 9,348.

InterContinental Hotels Group (LON:IHG - Get Free Report) had its price objective hoisted by equities researchers at Citigroup from GBX 7,900 to GBX 8,000 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The brokerage currently has a "sell" rating on the stock. Citigroup's target price suggests a potential downside of 14.42% from the company's previous close.

IHG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on InterContinental Hotels Group from GBX 7,900 to GBX 8,050 and gave the stock a "hold" rating in a report on Thursday, September 11th. JPMorgan Chase & Co. raised shares of InterContinental Hotels Group to an "overweight" rating and raised their price objective for the stock from GBX 8,500 to £104 in a research note on Friday, September 26th. Finally, UBS Group reaffirmed a "buy" rating and set a GBX 9,450 price objective on shares of InterContinental Hotels Group in a research note on Friday, October 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of GBX 7,199.

InterContinental Hotels Group Stock Performance

IHG traded up GBX 128 during midday trading on Friday, hitting GBX 9,348. 309,083 shares of the company were exchanged, compared to its average volume of 2,430,911. The company's 50 day simple moving average is GBX 8,964.70 and its 200 day simple moving average is GBX 8,615.37. The firm has a market capitalization of £14.16 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 1.35 and a debt-to-equity ratio of -162.30. InterContinental Hotels Group has a 1-year low of GBX 7,252 and a 1-year high of £109.75.

InterContinental Hotels Group Company Profile

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.

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