Bernstein upgraded InterContinental (IHG) to Market Perform from Underperform with a price target of 9,000 GBp, up from 8,570 GBp. The firm says the combination of recent stock weakness and earnings estimate upgrades after the credit card deal means the stock’s downside is now limited. Bernstein is also more bullish on RevPAR for InterContinental’s s key markets in the U.S. and China, “which makes misses less likely.”
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Read More on IHG:
- InterContinental downgraded to Underweight from Equal Weight at Morgan Stanley
- InterContinental upgraded to Reduce from Sell at AlphaValue/Baader
- InterContinental Hotels Group Engages in Share Buyback Program
- InterContinental price target raised to 8,300 GBp at Deutsche Bank
- InterContinental price target raised to 113 GBp from 109 GBp at Barclays