IHG shows resilience but little upside, says Berenberg
InterContinental Hotel Group’s (IHG) ‘asset-light’ strategy has stood it in good stead through the Covid-19 pandemic but Berenberg sees little upside.
Analyst Stuart Gordan retained his ‘hold’ recommendation and target price of £40 on the shares, which were trading at £45.28 yesterday at the time of writing.
‘Through the Covid-19 pandemic, the benefits of IHG’s asset-light strategy have shone through,’ he said.
‘Despite the devastating impact on revenue per available room, IHG’s ability to quickly react in terms of the cost base and also its lack of exposure to owned and leased properties have meant that cash burn has been negligible.’
However, Gordon pointed to the shares’ rating, on a price-earnings ratio of 23.5 times 2022 consensus estimates.
‘We therefore see little upside from here and remain at “hold”, with an unchanged target price,’ he said. |
Crowne Plaza debut - Budapest |
BofA Merrill Lynch double-upgrades Whitbread, downgrades IHG
Merrill downgraded IHG to ‘neutral’ from ‘buy’ but lifted the price target
to 4,850p from 4,750p. "IHG benefits from a high quality business model
and has navigated well through the
outbreak but we now see moderate upside potential," it said. |
CITIGROUP RAISES INTERCONTINENTAL HOTELS TARGET TO 3,940 (3,100) PENCE - 'SELL'
UBS CUTS INTERCONTINENTAL HOTELS TO 'SELL' ('NEUTRAL') - TARGET 4,300 (3,820) PENCE |
InterContinental Hotels Group, down 4.5%. UBS downgraded IHG to Sell from Neutral saying a decline in corporate travel will continue into 2021 and damage the hotel operator's prospects. |
INTERCONTINENTAL HOTELS GROUP has announced Miami as the location of its first property in its upper-midscale Atwell Suites brand launched last year. Baywood Hotels, led by Al Patel as president and CEO, helped design the brand and plans to open its own Atwell Suites in Dallas in the near future. |
‘The Covid fog is beginning to lift’: Hospitality and leisure bosses hail Pfizer news as hard-hit shares surge |
DENHAM, U.K. — InterContinental Hotels Group (IHG) has launched a loyalty partnership with the travel club Mr & Mrs Smith that will make a selection of 400 Mr & Mrs Smith hotels available to book through IHG’s direct channels.
This exclusive partnership more than doubles the number of luxury and lifestyle hotels available to IHG Rewards members; complementing IHG’s luxury and lifestyle portfolio of hotels and resorts. This includes hotels in 11 new destinations where IHG is not currently present.
New hotels will be added each week, with the full selection of properties available to book by early December. |
arja, can't be 100% but I think Lonon is the main market . Value of volume traded looks to be three times that of USA.
"IHG expands footprint in Thailand with Holiday Inn and Holiday Inn Express and Suites Phuket Kata" |
does any IHG follower know if USA is lead market for the stock and after 1.30pm when US physical market opens , the UK price follows USA price religiously with FX movement playing a part ?? It does seem to react to movemnt in USA prioe which is $50.68 bid at the moment. |
Pretty solid in this climate. |
Trading update tomorrow. |
Coronavirus: Rapid one-hour tests now available for Italy and Hong Kong passengers at Heathrow
The LAMP tests are quicker than PCR ones used by the NHS as they do not require a laboratory to process samples. |
JPMORGAN RAISES INTERCONTINENTAL HOTELS GROUP TO 'NEUTRAL' ('UNDERWEIGHT') - TARGET 4,400 (3,350) PENCE |
PEEL HUNT CUTS INTERCONTINENTAL HOTELS TO 'HOLD' ('BUY') - TARGET 4,300 (5,000) PENCE |
BARCLAYS RAISES INTERCONTINENTAL HOTELS TARGET TO 4,700 (3,800) PENCE - 'OVERWEIGHT' |
IHG boss continues to see opportunities in business travel |
CITIGROUP RAISES INTERCONTINENTAL HOTELS TARGET TO 3100 (2250) PENCE - 'SELL' |
InterContinental Hotels & Resorts opens first residence in Indonesia |
but alsop seems to be a great trading stock with wide intra day movements and I must start to monitor it ! Today was an example of that range |
chart looks awful and seems to be heading for about 3550 support level in due course |
BRYAN GARNIER CUTS INTERCONTINENTAL HOTELS TO 'SELL' (NEUTRAL) - TARGET 3,900 PENCE |
IHG launches voco hotel brand in US and China |
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