Jefferies analyst Jaina Mistry raised the firm’s price target on InterContinental (IHG) to 6,200 GBp from 5,500 GBp and keeps a Buy rating on the shares. The analyst names the stock as Jefferies’ "preferred play on travel recovery" and expects valuation relative to Marriott (MAR) to narrow given the company’s stronger growth profile in 2023 due to exposure to Asia and comparable net unit growth rate of about 4%.
Published first on TheFly
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Read More on IHG:
- Jefferies lodging/leisure analyst holds analyst/industry conference call
- InterContinental price target raised to 5,730 GBp at Deutsche Bank
- InterContinental upgraded to Buy from Neutral at BofA
- InterContinental price target raised to 6,200 GBp from 5,900 GBp at JPMorgan
- InterContinental price target lowered to 5,500 GBp from 6,000 GBp at Jefferies
