Today, JPMorgan Chase & Co. Reiterates “Underweight” Rating for InterContinental Hotels Group PLC (IHG)

Today, JPMorgan Chase & Co. Reiterates “Underweight” Rating for InterContinental Hotels Group PLC (IHG)
InterContinental Hotels Group PLC (LON:IHG)‘s stock had its “underweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday. They presently have a GBX 2,975 ($37.17) target price on the stock. JPMorgan Chase & Co.’s target price points to a potential downside of 10.07% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. HSBC restated a “reduce” rating and set a GBX 2,900 ($36.23) price target on shares of InterContinental Hotels Group PLC in a research note on Monday, November 14th. Credit Suisse Group AG reiterated an “outperform” rating and issued a GBX 3,550 ($44.35) price objective on shares of InterContinental Hotels Group PLC in a research note on Tuesday, October 25th. Beaufort Securities reiterated a “buy” rating on shares of InterContinental Hotels Group PLC in a research note on Monday, October 24th. Kepler Capital Markets lowered shares of InterContinental Hotels Group PLC to a “reduce” rating and reduced their price objective for the company from GBX 3,074 ($38.41) to GBX 3,022.80 ($37.77) in a research note on Monday, October 24th. Finally, Barclays PLC lifted their price objective on shares of InterContinental Hotels Group PLC from GBX 2,955 ($36.92) to GBX 3,060 ($38.23) and gave the company an “equal weight” rating in a research note on Monday, October 24th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of GBX 2,934.32 ($36.66).

Shares of InterContinental Hotels Group PLC (LON:IHG) opened at 3301.00 on Wednesday. The company has a 50 day moving average price of GBX 3,177.54 and a 200-day moving average price of GBX 3,012.70. The firm’s market cap is GBX 7.53 billion. InterContinental Hotels Group PLC has a 52-week low of GBX 2,504.00 and a 52-week high of GBX 3,528.00.

In other InterContinental Hotels Group PLC news, insider Richard Solomons sold 37,340 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of GBX 3,157 ($39.44), for a total value of £1,178,823.80 ($1,472,793.35).

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