InterContinental Hotels Group (LON:IHG) Coverage Initiated at Bank of America

Stock analysts at Bank of America assumed coverage on shares of InterContinental Hotels Group (LON:IHG) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a GBX 7,200 ($89.19) price target on the stock. Bank of America‘s price objective suggests a potential upside of 15.42% from the company’s current price.

A number of other brokerages also recently commented on IHG. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterContinental Hotels Group in a research report on Tuesday, May 23rd. Barclays boosted their price target on shares of InterContinental Hotels Group from GBX 5,900 ($73.08) to GBX 6,000 ($74.32) in a report on Friday, August 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of InterContinental Hotels Group from GBX 5,850 ($72.46) to GBX 5,390 ($66.77) in a report on Tuesday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on InterContinental Hotels Group from GBX 6,200 ($76.80) to GBX 6,300 ($78.04) in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 6,055.71 ($75.01).

InterContinental Hotels Group Trading Up 0.2 %

Shares of IHG traded up GBX 14 ($0.17) during trading hours on Tuesday, reaching GBX 6,238 ($77.27). 522,345 shares of the stock traded hands, compared to its average volume of 512,542. InterContinental Hotels Group has a 52 week low of GBX 4,224 ($52.32) and a 52 week high of GBX 6,344 ($78.58). The company has a market cap of £10.40 billion, a price-to-earnings ratio of 2,200.71, a PEG ratio of 0.65 and a beta of 0.95. The stock has a fifty day simple moving average of GBX 5,829.44 and a 200 day simple moving average of GBX 5,549.73.

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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, avid, Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, and Candlewood Suites brand names.