Jefferies analyst Jaina Mistry raised the firm’s price target on InterContinental (IHG) to 8,700 GBp from 8,400 GBp and keeps a Hold rating on the shares. The firm views the company’s Q2 results as showing the resilience of its operating model. However, Jefferies sees limited share upside due to a lack of near-term catalysts and continued U.S. RevPAR pressure.
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