InterContinental downgraded to Sell from Hold at Deutsche Bank

Deutsche Bank downgraded InterContinental to Sell from Hold with a price target of 6,360 GBp, up from 5,800 GBp. The analyst says a lot of growth is already priced into the shies into the company’s fiscal 2023 results on February 20. The firm downgraded IHG as part of a model update before the annual results on valuation.