CLSA Initiates Coverage on InterContinental Hotels Group PLC (ADR) to Underperform

CLSA Initiates Coverage on InterContinental Hotels Group PLC (ADR)(NYSE:IHG). The shares have been rated Underperform. The rating by CLSA was issued on Apr 12, 2016.

In a different note, On Mar 17, 2016, Morgan Stanley said it Downgrades its rating on InterContinental Hotels Group PLC (ADR). The shares have been rated ‘Equal-weight’ by the firm. On Mar 7, 2016, Citigroup said it Downgrades its rating on InterContinental Hotels Group PLC (ADR). The shares have been rated ‘Sell’ by the firm. On Feb 24, 2016, SunTrust Robinson Humphrey said it Maintains its rating on InterContinental Hotels Group PLC (ADR). In the research note, the firm Lowers the price-target to $43.00 per share. The shares have been rated ‘Neutral’ by the firm.

InterContinental Hotels Group PLC (ADR) (IHG) shares turned negative on Fridays trading session with the shares closing down -0.09 points or -0.22% at a volume of 1,90,329. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $41. The peak price level was also seen at $41 while the days lowest was $40.69. Finally the shares closed at $40.8. The 52-week high of the shares is $44.72 while the 52-week low is $31.08. According to the latest information available, the market cap of the company is $9,634 M.

InterContinental Hotels Group PLC is a hotel company. The Company franchises leases manages or owns over 4800 hotels and approximately 710000 guest rooms in nearly 100 countries. The Company’s portfolio of hotel brands include InterContinental Hotels & Resorts HUALUXE Hotels and Resorts Crowne Plaza Hotels & Resorts Hotel Indigo EVEN Hotels Holiday Inn Holiday Inn Express Staybridge Suites Candlewood Suites and Kimpton Hotels & Restaurant. The Company operates through four geographical regions: Americas Europe Asia Middle East and Africa and Greater China.

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