Morgan Stanley Downgrades InterContinental Hotels Group PLC (ADR) to Underweight

Brokerage firm Morgan Stanley Downgrades its rating on InterContinental Hotels Group PLC (ADR)(NYSE:IHG). The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Sep 26, 2016.

In a different note, On Aug 4, 2016, SunTrust Robinson Humphrey said it Maintains its rating on InterContinental Hotels Group PLC (ADR). In the research note, the firm Raises the price-target to $41.00 per share. The shares have been rated ‘Neutral’ by the firm.

InterContinental Hotels Group PLC (ADR) (IHG) made into the market gainers list on Thursdays trading session with the shares advancing 1.10% or 0.47 points. Due to strong positive momentum, the stock ended at $43.22, which is also near the day’s high of $43.28. The stock began the session at $42.97 and the volume stood at 8,55,599 shares. The 52-week high of the shares is $50.55602 and the 52 week low is $34.63. The company has a current market capitalization of $8,504 M and it has 19,67,64,300 shares in outstanding.

InterContinental Hotels Group PLC is a hotel company. The Company franchises leases manages or owns over 4800 hotels and approximately 710000 guest rooms in nearly 100 countries. The Company’s portfolio of hotel brands include InterContinental Hotels & Resorts HUALUXE Hotels and Resorts Crowne Plaza Hotels & Resorts Hotel Indigo EVEN Hotels Holiday Inn Holiday Inn Express Staybridge Suites Candlewood Suites and Kimpton Hotels & Restaurant. The Company operates through four geographical regions: Americas Europe Asia Middle East and Africa and Greater China.

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