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InterContinental Hotels ( (GB:IHG) ) has shared an update.
InterContinental Hotels Group PLC announced the repurchase of 29,231 of its ordinary shares on the London Stock Exchange, as authorized by shareholders at the company’s Annual General Meeting. The shares were bought at a volume-weighted average price of £100.5549 per share and are intended to be canceled, which will reduce the total number of shares in circulation and potentially enhance shareholder value.
The most recent analyst rating on (GB:IHG) stock is a Buy with a £11294.00 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 Outperform.
InterContinental Hotels’ stock is supported by strong technical momentum, despite financial stability concerns due to high leverage and negative equity. The valuation suggests potential overvaluation, which could limit upside potential.
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, known for its extensive portfolio of hotel brands and services. The company operates globally, focusing on providing premium hospitality experiences across various market segments.
Average Trading Volume: 409,965
Technical Sentiment Signal: Strong Buy
Current Market Cap: £15.07B
See more insights into IHG stock on TipRanks’ Stock Analysis page.