InterContinental price target lowered to 5,500 GBp from 6,000 GBp at Jefferies

Jefferies analyst Jaina Mistry lowered the firm’s price target on InterContinental Hotels Group to 5,500 GBp from 6,000 GBp and keeps a Buy rating on the shares after taking over coverage of the name. The analyst is a buyer of IHG‘s exposure to the economic "reopening" and "more resilient" U.S. consumer. She also likes the company’s "pricing sophistication, low inflation risk and robust balance sheet."