Time to Reconsider InterContinental Hotels Group PLC (IHG) After Touching All Time High?

The stock of InterContinental Hotels Group PLC (NYSE:IHG) reached all time high today, Dec, 21 and still has $64.89 target or 3.00 % above today’s $63.00 share price. This indicates more upside for the $11.43B company. This technical setup was reported by Barchart.com. If the $64.89 PT is reached, the company will be worth $342.81M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 1.93% or $1.19 during the last trading session, reaching $63. About 599,595 shares traded or 310.32% 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 had 22 analyst reports since August 28, 2015 according to SRatingsIntel. Telsey Advisory Group maintained InterContinental Hotels Group PLC (NYSE:IHG) rating on Wednesday, February 24. Telsey Advisory Group has “Market Perform” rating and $35 target. The stock of InterContinental Hotels Group PLC (NYSE:IHG) earned “Underweight” rating by Morgan Stanley on Monday, September 26. On Thursday, January 14 the stock rating was maintained by M Partners with “Buy”. Telsey Advisory Group initiated the shares of IHG in report on Monday, January 4 with “Market Perform” rating. The firm earned “Hold” rating on Wednesday, February 24 by Kepler Cheuvreux. As per Monday, June 19, the company rating was downgraded by Credit Suisse. The rating was downgraded by JP Morgan to “Underweight” on Thursday, April 14. The stock of InterContinental Hotels Group PLC (NYSE:IHG) earned “Buy” rating by Bank of America on Friday, October 20. The stock of InterContinental Hotels Group PLC (NYSE:IHG) has “Hold” rating given on Tuesday, December 8 by Berenberg. Citigroup downgraded the stock to “Sell” rating in Monday, March 7 report.

More notable recent InterContinental Hotels Group PLC (NYSE:IHG) news were published by: Fool.com which released: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group” on November 16, 2015, also Benzinga.com with their article: “Morgan Stanley Analyzes The Lodging Sector’s M&A Potential” published on December 08, 2017, Quotes.Wsj.com published: “InterContinental Hotels Group PLC ADR” on February 11, 2011. More interesting news about InterContinental Hotels Group PLC (NYSE:IHG) were released by: Investorplace.com and their article: “IHG Hotels Data Breach: Holiday Inn, Crown Plaza, 10 Others Affected” published on April 20, 2017 as well as Seekingalpha.com‘s news article titled: “A Winner In The Current Consolidation Wave In The Hotel Industry …” with publication date: November 18, 2015.

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels. The company has market cap of $11.43 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 28.25 P/E ratio. The firm also manages IHG Rewards Club, a hotel loyalty program.