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InterContinental Hotels ( (GB:IHG) ) has shared an update.
InterContinental Hotels Group PLC announced the purchase of 30,344 of its own ordinary shares on the London Stock Exchange, as part of a buyback program authorized by shareholders. The shares, acquired at a volume-weighted average price of £101.5266, will be canceled, reducing the total number of shares in issue and potentially enhancing shareholder value.
The most recent analyst rating on (GB:IHG) stock is a Buy with a £10200.00 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 is primarily driven by its strong technical performance, indicating bullish momentum. However, financial performance is mixed, with strong revenue growth offset by concerns over high leverage and negative equity. Valuation is moderate, with a relatively high P/E ratio and low dividend yield. The absence of earnings call data and corporate events means these factors do not influence the score.
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 and resort services across the globe. The company focuses on delivering premium hospitality experiences and operates a diverse portfolio of hotel brands catering to various market segments.
Average Trading Volume: 431,168
Technical Sentiment Signal: Strong Buy
Current Market Cap: £15.17B
Find detailed analytics on IHG stock on TipRanks’ Stock Analysis page.