Intercontinental Hotels Group Up after Broker Re-rating
April 9, 2015 10:45 am
Shares in Intercontinental Hotels Group (IHG.L) posted a gain this morning after broker Jefferies moved its rating on the share to HOLD citing the group as a potential takeover target.
Jefferies speculates that as growth slows in the sector mergers and aquisitions are set to return and sees Intercontinental Hotels Group (IHG.L) as a prime target as it is “particularly vunerable”. The broker raised its target price from 2000p to 2400p.
Shares in Intercontinental Hotels Group (IHG.L) posted a gain this morning after broker Jefferies moved its rating on the share to HOLD citing the group as a potential takeover target.
Jefferies speculates that as growth slows in the sector mergers and aquisitions are set to return and sees Intercontinental Hotels Group (IHG.L) as a prime target as it is “particularly vunerable”. The broker raised its target price from 2000p to 2400p.