JP Morgan Downgrades InterContinental Hotels Group PLC (ADR) to Underweight

Brokerage firm JP Morgan Downgrades its rating on InterContinental Hotels Group PLC (ADR)(NYSE:IHG). The shares have been rated Underweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Apr 14, 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) made into the market gainers list on Mondays trading session with the shares advancing 1.91% or 0.78 points. Due to strong positive momentum, the stock ended at $41.58, which is also near the day’s high of $41.73. The stock began the session at $41.61 and the volume stood at 1,77,873 shares. The 52-week high of the shares is $44.72 and the 52 week low is $31.08. The company has a current market capitalization of $9,818 M and it has 23,61,17,260 shares in outstanding.

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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