BofA analyst Muneeba Kayani reinstated coverage of InterContinental with a Buy rating and 7,200 GBp price target. The analyst says the stock’s multiple discount to IHG‘s U.S. peers has expanded to 14%, wider than historically, which is unjustified given its high returns and cash return potential. InterContinental’s system growth concerns are overblown and strong RevPAR should be sustainable amid resilient travel demand, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on IHG:
- InterContinental price target raised to 6,000 GBp from 5,900 GBp at Barclays
- Intercontinental Hotels Group (IHG) Unveils Dividend Details for Q4: Mark Your Calendar!
- InterContinental price target raised to 6,300 GBp from 6,200 GBp at JPMorgan
- InterContinental price target raised to 5,800 GBp at Morgan Stanley
