Stifel analyst Simon Lechipre downgraded InterContinental to Hold from Buy with a price target of 6,000 GBp, up from 5,400 GBp. The analyst continues to like IHG‘s "resilient" business model and strong cash generation but does not see many catalysts ahead following the recent stock performance. The mixed development backdrop is likely to keep net system size growth below the mid-single digit target, the analyst tells investors in a research note.
Published first on TheFly
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Read More on IHG:
- InterContinental downgraded to Hold from Buy at Peel Hunt
- InterContinental downgraded to Neutral from Outperform at Exane BNP Paribas
- InterContinental price target raised to 6,200 GBp from 5,500 GBp at Jefferies
- Jefferies lodging/leisure analyst holds analyst/industry conference call
- InterContinental price target raised to 5,730 GBp at Deutsche Bank
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