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Berenberg Bank Remains a Buy on InterContinental Hotels (IHG)

Tipranks - Tipranks - Tue Mar 3, 1:08AM CST

In a report released on February 27, from Berenberg Bank maintained a Buy rating on InterContinental Hotels, with a price target of $157.00. The company’s shares closed last Friday at $137.50.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for InterContinental Hotels with a $151.18 average price target, a 9.95% upside from current levels. In a report released today, Barclays also maintained a Buy rating on the stock with a $156.00 price target.

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Based on InterContinental Hotels’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.67 billion and a net profit of $291 million. In comparison, last year the company earned a revenue of $2.08 billion and had a net profit of $224.6 million

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IHG in relation to earlier this year.

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