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InterContinental Hotels to return $1.5bn to shareholders

InterContinental Hotels To Return http://discountholidays.info/posts/wp-content/uploads/2016/02/8b86Hotel_Indigo_Stratford-upon-Avon.jpg.5bn To Shareholders

InterContinental Hotels Group PLC 25.4% Potential Upside Indicated by Kepler Cheuvreux

Goldman Sachs restated a buy rating and set a GBX 3,115 ($44.07) price objective (down from GBX 3,325 ($47.04)) on shares of InterContinental Hotels Group PLC in a research report on Tuesday, October 27th. The average 12 month price target among analysts that have covered the stock in the a year ago is GBX 2,676.06 ($37.86). This would imply the analyst believes there is now a potential upside of 25.4% from today’s opening price of 2472 GBX.

InterContinental Hotels Group PLC (NYSE:IHG1) traded down 1.13% during trading on Thursday, hitting $35.05. Several other research firms also recently commented on IHG. Nomura decreased their price objective on InterContinental Hotels Group PLC from GBX 2,800 ($39.62) to GBX 2,698 ($38.17) and set a neutral rating for the company in a research report on Tuesday, November 3rd. The company has a consensus rating of Hold and an average target price of GBX 510 ($7.36). JP Morgan maintained the firm’s rating on February 16.

It has outperformed by 0.82% the S&P500. Citigroup Inc. downgraded shares of InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. Finally, AlphaValue lowered InterContinental Hotels Group PLC to a reduce rating and set a GBX 2,853 ($40.37) price objective for the company.in a research report on Monday, November 9th. The Company franchises, leases, manages or owns over 4,800 hotels and approximately 710,000 guest rooms in almost 100 countries.

The company has a market cap of $8.24 billion and a PE ratio of 16.78. Shares in InterContinental Hotels Group (LON:IHG) have been trading in positive territory in today’s session, ahead of the group’s full-year update tomorrow when the Discount Holidays © Holiday Inn and Crowne Plaza owner is expected to announce that it will distribute between $1 billion and $1.5 billion to shareholders. According to Zacks, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Discount Holidays © Holiday Inn hotels, Discount Holidays © Holiday Inn Express hotels, and Staybridge Suites by Discount Holidays © Holiday Inn hotels”.

References

  1. ^ NYSE:IHG (www.marketbeat.com)