InterContinental Hotels Group (LON:IHG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased the price target for InterContinental Hotels Group (IHG) from GBX 8,300 ($111.62) to GBX 8,500 ($114.31), maintaining an "underweight" rating.
• Despite the price target increase, JPMorgan's forecast indicates a potential downside of 4.54% from the stock's previous close.
• The current consensus rating for IHG is "Hold," with an average price target of GBX 6,359 ($85.52) based on multiple analysts' evaluations.

InterContinental Hotels Group (LON:IHG - Free Report) had its price target hoisted by JPMorgan Chase & Co. from GBX 8,300 ($111.63) to GBX 8,500 ($114.32) in a report released on Friday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 7,900 ($106.25) price objective on shares of InterContinental Hotels Group in a report on Monday, July 21st. Citigroup raised their price objective on shares of InterContinental Hotels Group from GBX 7,800 ($104.91) to GBX 7,900 ($106.25) and gave the stock a "sell" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, InterContinental Hotels Group currently has an average rating of "Hold" and an average price target of GBX 6,359 ($85.53).

InterContinental Hotels Group Price Performance

Shares of LON IHG traded down GBX 358 ($4.82) during mid-day trading on Friday, hitting GBX 8,824 ($118.68). 861,399 shares of the stock were exchanged, compared to its average volume of 2,370,863. The company has a market cap of £17.69 billion, a P/E ratio of 28.96, a PEG ratio of 1.69 and a beta of 0.98. The stock's fifty day simple moving average is GBX 8,553 and its two-hundred day simple moving average is GBX 8,828.52. The company has a debt-to-equity ratio of -162.30, a quick ratio of 1.35 and a current ratio of 0.85. InterContinental Hotels Group has a twelve month low of GBX 7,160 ($96.30) and a twelve month high of £109.75 ($147.61).

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.