Berenberg Bank Cuts Intercontinental Hotels Group (LON:IHG) Price Target to GBX 5,200

Intercontinental Hotels Group (LON:IHG) had its target price cut by Berenberg Bank from GBX 5,300 ($69.72) to GBX 5,200 ($68.40) in a report published on Friday, Stock Target Advisor reports. They currently have a hold rating on the stock.

IHG has been the topic of a number of other reports. Goldman Sachs Group decreased their target price on shares of Intercontinental Hotels Group from GBX 5,300 ($69.72) to GBX 5,100 ($67.09) and set a neutral rating on the stock in a research note on Wednesday, November 13th. Jefferies Financial Group dropped their price target on Intercontinental Hotels Group from GBX 6,200 ($81.56) to GBX 5,800 ($76.30) and set a buy rating for the company in a research report on Friday, December 13th. Morgan Stanley reaffirmed an underweight rating on shares of Intercontinental Hotels Group in a report on Monday, October 14th. Deutsche Bank cut their price target on Intercontinental Hotels Group from GBX 4,935 ($64.92) to GBX 4,860 ($63.93) and set a hold rating for the company in a report on Friday, January 10th. Finally, UBS Group reiterated a sell rating and set a GBX 4,400 ($57.88) price objective (down previously from GBX 4,800 ($63.14)) on shares of Intercontinental Hotels Group in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Intercontinental Hotels Group has an average rating of Hold and a consensus target price of GBX 4,962.22 ($65.28).

Shares of LON IHG opened at GBX 5,146 ($67.69) on Friday. The stock has a market cap of $9.39 billion and a PE ratio of 22.30. Intercontinental Hotels Group has a 12-month low of GBX 4,227 ($55.60) and a 12-month high of GBX 5,770 ($75.90). The company has a 50-day moving average of GBX 5,053.83 and a 200 day moving average of GBX 5,053.94.

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 HOTELS, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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