Jamie Rollo, an analyst from Morgan Stanley, maintained the Hold rating on InterContinental Hotels. The associated price target remains the same with p9,000.00.
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Jamie Rollo has given his Hold rating due to a combination of factors impacting InterContinental Hotels’ performance. The company’s Q3 RevPAR growth was modest at 0.1%, aligning with expectations but showing a mixed regional performance. While the EMEAA region showed positive growth, the Americas and China experienced declines, with the latter impacted by increased international outbound leisure trips.
Net unit growth was in line with expectations at 4.4%, indicating steady expansion. However, the lack of guidance and the expectation of flat RevPAR in Q4 suggest limited upside potential in the near term. Despite these challenges, the company remains on track to meet its full-year EBIT/EPS consensus, which supports the Hold rating as it reflects a balanced view of potential risks and rewards.
In another report released today, Jefferies also maintained a Hold rating on the stock with a £87.00 price target.