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InterContinental Hotels ( (GB:IHG) ) has shared an announcement.
InterContinental Hotels Group PLC announced the repurchase of 20,627 of its ordinary shares on the London Stock Exchange, as part of a shareholder-approved buyback program. This transaction, executed through Merrill Lynch International, aims to enhance shareholder value and will result in the cancellation of the purchased shares, thereby reducing the total number of shares in circulation.
The most recent analyst rating on (GB:IHG) stock is a Sell with a £96.00 price target. To see the full list of analyst forecasts on InterContinental Hotels stock, see the GB:IHG Stock Forecast page.
Spark’s Take on GB:IHG Stock
According to Spark, TipRanks’ AI Analyst, GB:IHG is a Neutral.
InterContinental Hotels’ stock score reflects strong financial performance and strategic initiatives, including share buybacks and brand expansion, which bolster confidence in its growth prospects. However, high leverage and negative equity present risks, while technical indicators suggest bearish sentiment.
To see Spark’s full report on GB:IHG stock, click here.
More about InterContinental Hotels
InterContinental Hotels Group PLC is a prominent player in the hospitality industry, offering a wide range of hotel services and accommodations. The company focuses on providing luxury and midscale hotel experiences across various global markets.
Average Trading Volume: 554,216
Technical Sentiment Signal: Buy
Current Market Cap: £12.73B
See more data about IHG stock on TipRanks’ Stock Analysis page.