December 21, 2017 – By Adrian Mccoy
The stock of InterContinental Hotels Group PLC (NYSE:IHG) hit a new 52-week high and has $68.58 target or 9.00 % above today’s $62.92 share price. The 9 months bullish chart indicates low risk for the $11.41B company. The 1-year high was reported on Dec, 21 by Barchart.com. If the $68.58 price target is reached, the company will be worth $1.03 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.
The stock increased 1.80% or $1.11 during the last trading session, reaching $62.92. About 156,241 shares traded or 6.92% up from the average. InterContinental Hotels Group PLC (NYSE:IHG) has risen 43.31% since December 21, 2016 and is uptrending. It has outperformed by 26.61% the S&P500.
InterContinental Hotels Group PLC (NYSE:IHG) Ratings Coverage
Among 13 analysts covering Intercontinental Hotels Group (NYSE:IHG), 3 have Buy rating, 4 Sell and 6 Hold. Therefore 23% are positive. Intercontinental Hotels Group has $62.38 highest and $35 lowest target. $50.35’s average target is -19.98% below currents $62.92 stock price. Intercontinental Hotels Group had 22 analyst reports since August 28, 2015 according to SRatingsIntel. As per Monday, September 26, the company rating was downgraded by Morgan Stanley. Telsey Advisory Group maintained it with “Market Perform” rating and $35 target in Wednesday, February 24 report. Telsey Advisory Group maintained it with “Market Perform” rating and $44 target in Thursday, February 23 report. The stock of InterContinental Hotels Group PLC (NYSE:IHG) has “Underperform” rating given on Tuesday, April 12 by CLSA. On Friday, August 28 the stock rating was upgraded by Credit Suisse to “Neutral”. As per Monday, June 19, the company rating was downgraded by Credit Suisse. The firm has “Hold” rating given on Tuesday, December 8 by Berenberg. The firm has “Neutral” rating by Citigroup given on Tuesday, January 12. The firm has “Overweight” rating by Barclays Capital given on Tuesday, January 3. M Partners maintained the shares of IHG in report on Thursday, January 14 with “Buy” rating.
More notable recent InterContinental Hotels Group PLC (NYSE:IHG) news were published by: Seekingalpha.com which released: “A Winner In The Current Consolidation Wave In The Hotel Industry …” on November 18, 2015, also Seekingalpha.com with their article: “InterContinental Hotels (IHG) on Q3 2016 Results – Earnings Call Transcript” published on October 21, 2016, Benzinga.com published: “Morgan Stanley Analyzes The Lodging Sector’s M&A Potential” on December 08, 2017. More interesting news about InterContinental Hotels Group PLC (NYSE:IHG) were released by: Quotes.Wsj.com and their article: “InterContinental Hotels Group PLC ADR” published on February 11, 2011 as well as Fool.com‘s news article titled: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group” with publication date: November 16, 2015.
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels. The company has market cap of $11.41 billion. It operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Crowne Plaza, Holiday Inn Club Vacations, Holiday Inn Resort, and Candlewood Suites Hotels brand names. It has a 28.22 P/E ratio. The firm also manages IHG Rewards Club, a hotel loyalty program.
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