Berenberg Bank Raises Intercontinental Hotels Group (IHG) Price Target to GBX 5,300

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

A number of other equities analysts also recently issued reports on IHG. UBS Group upgraded Intercontinental Hotels Group to a neutral rating and increased their price target for the stock from GBX 4,275 ($55.86) to GBX 4,500 ($58.80) in a research report on Wednesday, February 20th. Goldman Sachs Group lowered their price target on Intercontinental Hotels Group from GBX 5,368.42 ($70.15) to GBX 5,100 ($66.64) and set a neutral rating on the stock in a research report on Monday, April 15th. Societe Generale increased 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 research report on Wednesday, February 20th. Bryan, Garnier & Co reiterated a sell rating on shares of Intercontinental Hotels Group in a research report on Tuesday, February 19th. Finally, Main First Bank started coverage on Intercontinental Hotels Group in a research report on Tuesday, April 16th. They set an outperform rating and a GBX 5,600 ($73.17) price target on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of GBX 4,915 ($64.22).

Intercontinental Hotels Group stock traded up GBX 29 ($0.38) during midday trading on Wednesday, hitting GBX 5,063 ($66.16). 307,779 shares of the company were exchanged, compared to its average volume of 648,968. The firm has a market cap of $9.15 billion and a price-to-earnings ratio of 26.31. Intercontinental Hotels Group has a fifty-two week low of GBX 3,850 ($50.31) and a fifty-two week high of GBX 5,057 ($66.08).

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

In other Intercontinental Hotels Group news, insider George Turner sold 10,000 shares of the 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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