Research analysts at Royal Bank of Canada started coverage on shares of Intercontinental Hotels Group (LON:IHG) in a research note issued on Tuesday. The firm set a “sector performer” rating and a GBX 4,500 ($58.80) price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 6.31% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Barclays restated an “equal weight” rating on shares of Intercontinental Hotels Group in a report on Friday, November 16th. Citigroup downgraded Intercontinental Hotels Group to a “sell” rating in a report on Monday, September 3rd. Credit Suisse Group restated an “outperform” rating on shares of Intercontinental Hotels Group in a report on Thursday, August 23rd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Intercontinental Hotels Group in a report on Wednesday, August 8th. Finally, Numis Securities restated a “hold” rating on shares of Intercontinental Hotels Group in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of GBX 4,663.64 ($60.94).
Shares of IHG traded down GBX 29 ($0.38) during trading hours on Tuesday, hitting GBX 4,233 ($55.31). The company had a trading volume of 474,550 shares, compared to its average volume of 648,968. Intercontinental Hotels Group has a 52-week low of GBX 3,656 ($47.77) and a 52-week high of GBX 4,944 ($64.60).
About Intercontinental Hotels Group
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.
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