InterContinental Hotels Group (IHG) Shares Down 1.4%

InterContinental Hotels Group PLC (LON:IHG) shares dropped 1.4% on Thursday . The stock traded as low as GBX 4,377 ($58.91) and last traded at GBX 4,380 ($58.95). Approximately 592,319 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 557,222 shares. The stock had previously closed at GBX 4,442 ($59.78).

IHG has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on InterContinental Hotels Group from GBX 4,000 ($53.84) to GBX 3,700 ($49.80) and set an “underweight” rating for the company in a research report on Tuesday, September 5th. J P Morgan Chase & Co reissued an “underweight” rating and issued a GBX 3,450 ($46.43) price objective on shares of InterContinental Hotels Group in a research report on Monday, October 23rd. Deutsche Bank reissued a “hold” rating on shares of InterContinental Hotels Group in a research report on Friday, October 20th. Credit Suisse Group raised InterContinental Hotels Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from GBX 4,600 ($61.91) to GBX 5,100 ($68.64) in a research report on Wednesday, November 1st. Finally, Barclays reissued an “equal weight” rating and issued a GBX 4,000 ($53.84) price objective on shares of InterContinental Hotels Group in a research report on Thursday, November 16th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of GBX 3,988.21 ($53.68).

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About InterContinental Hotels Group

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

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