Intercontinental Hotels Group (LON:IHG) Rating Lowered to Underperform at Royal Bank of Canada

Intercontinental Hotels Group (LON:IHG) was downgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Thursday, Automated Import reports.

Other analysts also recently issued reports about the company. Main First Bank started coverage on Intercontinental Hotels Group in a report on Tuesday, April 16th. They issued an “outperform” rating and a GBX 5,600 ($73.17) price objective for the company. Barclays downgraded to an “underweight” rating and set a GBX 4,400 ($57.49) price objective for the company. in a report on Tuesday, June 18th. UBS Group restated a “neutral” rating on shares of CAIXABANK/ADR in a report on Thursday. Numis Securities restated a “buy” rating and issued a GBX 3,600 ($47.04) price objective on shares of in a report on Friday, June 14th. Finally, Goldman Sachs Group set a GBX 4,300 ($56.19) price objective on ASOS and gave the company a “buy” rating in a report on Monday, April 15th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Intercontinental Hotels Group has a consensus rating of “Hold” and a consensus price target of GBX 5,006.25 ($65.42).

IHG stock opened at GBX 5,514 ($72.05) on Thursday. The company has a 50-day moving average price of GBX 5,257.26. The company has a market capitalization of $10.04 billion and a P/E ratio of 28.66. Intercontinental Hotels Group has a 1-year low of GBX 4,052.63 ($52.95) and a 1-year high of GBX 5,487 ($71.70).

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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