Barclays upgraded InterContinental (IHG) to Overweight from Equal Weight with a price target of 10,900 GBp, up from 8,400 GBp. The firm sees IHG as well placed to continue to perform given its majority U.S. and cyclical exposure. While the stock’s multiple may seem high, it remains at a discount to U.S. peers, the analyst tells investors in a research note.
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Read More on IHG:
- InterContinental upgraded to Add from Reduce at Peel Hunt
- InterContinental price target raised to 6,500 GBp from 6,300 GBp at Citi
- InterContinental price target raised to 8,700 GBp at Morgan Stanley
- InterContinental price target raised to 6,600 GBp from 6,300 GBp at JPMorgan
- InterContinental upgraded to Buy from Neutral at Goldman Sachs