The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) gapped up by $0.11 today and has $54.75 target or 29.00% above today’s $42.44 share price. The 5 months technical chart setup indicates low risk for the $8.49B company. The gap was reported on Oct, 4 by Barchart.com. If the $54.75 price target is reached, the company will be worth $2.46B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.95% or $0.81 during the last trading session, hitting $42.44. About 200,731 shares traded hands. InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has declined 8.70% since March 1, 2016 and is downtrending. It has underperformed by 20.91% the S&P500.
InterContinental Hotels Group PLC (ADR) (NYSE:IHG) Ratings Coverage
Out of 11 analysts covering Intercontinental Hotels Group (NYSE:IHG), 1 rate it a “Buy”, 5 “Sell”, while 5 “Hold”. This means 9% are positive. Intercontinental Hotels Group has been the topic of 14 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating given on Monday, March 7 by Citigroup. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) earned “Market Perform” rating by Telsey Advisory Group on Monday, January 4. The firm has “Underperform” rating by CLSA given on Tuesday, April 12. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) earned “Neutral” rating by Credit Suisse on Friday, August 28. The firm earned “Market Perform” rating on Wednesday, February 24 by Telsey Advisory Group. Citigroup downgraded the stock to “Neutral” rating in Tuesday, January 12 report. As per Monday, September 26, the company rating was downgraded by Morgan Stanley. The rating was maintained by M Partners with “Buy” on Thursday, January 14. JP Morgan downgraded the stock to “Underweight” rating in Thursday, April 14 report. As per Tuesday, December 8, the company rating was downgraded by Berenberg.
According to Zacks Investment Research, “InterContinental Hotels Group offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels.”
More important recent InterContinental Hotels Group PLC (ADR) (NYSE:IHG) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Fool.com published article titled: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group”, Seekingalpha.com published: “A Winner In The Current Consolidation Wave In The Hotel Industry …” on November 18, 2015. More interesting news about InterContinental Hotels Group PLC (ADR) (NYSE:IHG) was released by: Benzinga.com and their article: “Benzinga’s Top Downgrades” with publication date: September 26, 2016.
IHG Company Profile
InterContinental Hotels Group PLC, incorporated on May 21, 2004, is a hotel company. The Firm operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s divisions include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Firm operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites. The Firm has approximately 5,000 hotels and over 744,000 guest rooms in its System in over 100 countries, and has over 1,300 hotels in its development pipeline. It operates approximately 4,220 hotels under franchise agreements. The Firm manages over 810 hotels and owns seven hotels across the world.
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