Berenberg Bank Boosts InterContinental Hotels Group PLC (IHG) Price Target to GBX 3,000

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InterContinental Hotels Group PLC (LON:IHG) had its target price raised by equities research analysts at Berenberg Bank from GBX 2,850 ($37.96) to GBX 3,000 ($39.96) in a research note issued on Thursday. The firm presently has a “hold” rating on the stock. Berenberg Bank’s price target points to a potential downside of 7.35% from the stock’s previous close.
IHG has been the subject of a number of other research reports. Credit Suisse Group AG reaffirmed an “outperform” rating and set a GBX 3,000 ($39.96) target price on shares of InterContinental Hotels Group PLC in a report on Thursday, June 9th. Kepler Capital Markets reaffirmed a “hold” rating and set a GBX 2,800 ($37.29) target price on shares of InterContinental Hotels Group PLC in a report on Wednesday, July 6th. Numis Securities Ltd reaffirmed a “hold” rating and set a GBX 2,700 ($35.96) target price on shares of InterContinental Hotels Group PLC in a report on Tuesday, August 2nd. Beaufort Securities reaffirmed a “buy” rating on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG decreased their target price on InterContinental Hotels Group PLC from GBX 2,770 ($36.89) to GBX 2,660 ($35.43) and set a “hold” rating for the company in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. InterContinental Hotels Group PLC currently has an average rating of “Hold” and a consensus target price of GBX 2,864.85 ($38.16).
InterContinental Hotels Group PLC (LON:IHG) traded up 1.76% on Thursday, reaching GBX 3238.00. The company’s stock had a trading volume of 388,015 shares. The firm has a 50-day moving average of GBX 3,230.27 and a 200 day moving average of GBX 3,066.18. The company’s market capitalization is GBX 7.38 billion. InterContinental Hotels Group PLC has a 12-month low of GBX 2,504.00 and a 12-month high of GBX 3,528.00.

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The business also recently disclosed a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 1st will be paid a dividend of GBX 22.60 ($0.30) per share. This represents a yield of 0.73%. The ex-dividend date is Thursday, September 1st.
In other InterContinental Hotels Group PLC news, insider Solomons,Richard sold 55,782 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of GBX 3,078 ($41.00), for a total transaction of £1,716,969.96 ($2,286,853.97).
About InterContinental Hotels Group PLC
InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

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