InterContinental Hotels Group PLC (ADR) (IHG)’s Bullish Multiple Top Pattern Points to Lower Stock Risks

September 17, 2017 - By Adrian Erickson

The stock of InterContinental Hotels Group PLC (ADR) (IHG) shows a multiple tops pattern with $53.84 target or 8.00 % above today’s $49.85 share price. The 7 months chart pattern indicates low risk for the $9.33 billion company. It was reported on Sep, 17 by Finviz.com. If the $53.84 price target is reached, the company will be worth $746.40 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.86% or $0.43 on September 15, reaching $49.85. About 157,256 shares traded or 3.06% up from the average. InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has risen 43.31% since September 17, 2016 and is uptrending. It has outperformed by 26.61% the S&P500.

InterContinental Hotels Group PLC (ADR) (NYSE:IHG) Ratings Coverage

Among 12 analysts covering Intercontinental Hotels Group (NYSE:IHG), 1 have Buy rating, 4 Sell and 7 Hold. Therefore 8% are positive. Intercontinental Hotels Group had 19 analyst reports since August 28, 2015 according to SRatingsIntel. Credit Suisse downgraded InterContinental Hotels Group PLC (ADR) (NYSE:IHG) on Monday, June 19 to “Neutral” rating. The firm has “Neutral” rating given on Thursday, August 4 by SunTrust. The firm has “Neutral” rating by Citigroup given on Tuesday, January 12. Barclays Capital upgraded InterContinental Hotels Group PLC (ADR) (NYSE:IHG) on Tuesday, January 3 to “Overweight” rating. The company was initiated on Tuesday, April 12 by CLSA. The firm earned “Underweight” rating on Thursday, April 14 by JP Morgan. The firm has “Sell” rating given on Monday, March 7 by Citigroup. The firm earned “Hold” rating on Wednesday, February 24 by Kepler Cheuvreux. As per Thursday, February 23, the company rating was maintained by Telsey Advisory Group. M Partners maintained InterContinental Hotels Group PLC (ADR) (NYSE:IHG) on Thursday, January 14 with “Buy” rating.

More notable recent InterContinental Hotels Group PLC (ADR) (NYSE:IHG) news were published by: Seekingalpha.com which released: “InterContinental Hotels (IHG) on Q3 2016 Results – Earnings Call Transcript” on October 21, 2016, also Seekingalpha.com with their article: “A Winner In The Current Consolidation Wave In The Hotel Industry …” published on November 18, 2015, Investorplace.com published: “Ex-Dividend Reminders Include Unilever plc (ADR) (UL)” on May 01, 2017. More interesting news about InterContinental Hotels Group PLC (ADR) (NYSE:IHG) were released by: Quotes.Wsj.com and their article: “InterContinental Hotels Group PLC ADR” published on February 11, 2011 as well as Fool.com‘s news article titled: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group” with publication date: November 16, 2015.

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