Intercontinental Hotels Group (IHG) Price Target Raised to GBX 5,300

Intercontinental Hotels Group (LON:IHG) had its price target boosted by Berenberg Bank from GBX 4,850 ($63.37) to GBX 5,300 ($69.25) in a research report released on Wednesday morning, Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

Several other research firms have also recently weighed in on IHG. UBS Group raised Intercontinental Hotels Group to a neutral rating in a report on Thursday, February 14th. Barclays reissued an equal weight rating on shares of Intercontinental Hotels Group in a report on Thursday, February 7th. Bryan, Garnier & Co reissued a sell rating on shares of Intercontinental Hotels Group in a report on Tuesday, February 19th. Main First Bank assumed coverage on Intercontinental Hotels Group in a report on Tuesday, April 16th. They set an outperform rating and a GBX 5,600 ($73.17) price target for the company. Finally, Societe Generale lifted their price target on Intercontinental Hotels Group from GBX 4,500 ($58.80) to GBX 4,800 ($62.72) and gave the stock a hold rating in a report on Wednesday, February 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Intercontinental Hotels Group presently has a consensus rating of Hold and an average target price of GBX 4,915 ($64.22).

Shares of IHG traded up GBX 51 ($0.67) during mid-day trading on Wednesday, reaching GBX 5,034 ($65.78). The company’s stock had a trading volume of 202,746 shares, compared to its average volume of 648,968. Intercontinental Hotels Group has a 1-year low of GBX 3,850 ($50.31) and a 1-year high of GBX 5,057 ($66.08). The stock has a market cap of $9.01 billion and a price-to-earnings ratio of 26.16.

The company also recently declared a dividend, which was paid on Tuesday, May 14th. Investors of record on Thursday, March 28th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a yield of 1.31%. Intercontinental Hotels Group’s payout ratio is currently 0.47%.

In related news, insider George Turner sold 10,000 shares of Intercontinental Hotels Group stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of GBX 4,613 ($60.28), for a total transaction of £461,300 ($602,770.16).

Intercontinental Hotels Group Company Profile

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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Analyst Recommendations for Intercontinental Hotels Group (LON:IHG)

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