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InterContinental Hotels ( (GB:IHG) ) has shared an update.
InterContinental Hotels Group PLC announced the purchase of 25,234 of its ordinary shares on the London Stock Exchange, as part of a buyback program authorized by shareholders. The company plans to cancel the purchased shares, which could potentially enhance shareholder value by reducing the number of shares outstanding and possibly improving earnings per share.
The most recent analyst rating on (GB:IHG) stock is a Buy with a £11900.00 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, offering a wide range of hotel and resort services across various global markets. The company focuses on providing high-quality accommodations and experiences for both leisure and business travelers.
Average Trading Volume: 405,281
Technical Sentiment Signal: Strong Buy
Current Market Cap: £15.2B
For an in-depth examination of IHG stock, go to TipRanks’ Overview page.