A Reversal for InterContinental Hotels Group PLC (ADR) (IHG) Is Near. The Formed Multiple Top Pattern

October 2, 2017 - By Hazel Jackson

The stock of InterContinental Hotels Group PLC (ADR) (IHG) shows a multiple tops pattern with $55.01 target or 4.00 % above today’s $52.89 share price. The 5 months chart pattern indicates low risk for the $10.08 billion company. It was reported on Oct, 2 by Finviz.com. If the $55.01 price target is reached, the company will be worth $403.20M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.11% or $0.06 during the last trading session, reaching $52.89. About 100 shares traded. InterContinental Hotels Group PLC (ADR) (NYSE:IHG) has risen 43.31% since October 2, 2016 and is uptrending. It has outperformed by 26.61% the S&P500.

InterContinental Hotels Group PLC (ADR) (NYSE:IHG) Ratings Coverage

Among 12 analysts covering Intercontinental Hotels Group (NYSE:IHG), 1 have Buy rating, 4 Sell and 7 Hold. Therefore 8% are positive. Intercontinental Hotels Group had 19 analyst reports since August 28, 2015 according to SRatingsIntel. The firm has “Equal-Weight” rating given on Monday, December 12 by Morgan Stanley. The firm has “Neutral” rating given on Tuesday, January 12 by Citigroup. The stock has “Neutral” rating by SunTrust on Thursday, August 4. As per Monday, December 5, the company rating was downgraded by M Partners. On Wednesday, February 24 the stock rating was downgraded by Kepler Cheuvreux to “Hold”. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) earned “Market Perform” rating by Telsey Advisory Group on Thursday, February 23. The stock of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) earned “Sell” rating by Citigroup on Monday, March 7. The firm has “Neutral” rating by Credit Suisse given on Monday, June 19. As per Thursday, April 14, the company rating was downgraded by JP Morgan. The firm has “Hold” rating by Berenberg given on Tuesday, December 8.

More notable recent InterContinental Hotels Group PLC (ADR) (NYSE:IHG) news were published by: Investorplace.com which released: “IHG Hotels Data Breach: Holiday Inn, Crown Plaza, 10 Others Affected” on April 20, 2017, also Quotes.Wsj.com with their article: “InterContinental Hotels Group PLC ADR” published on February 11, 2011, Seekingalpha.com published: “A Winner In The Current Consolidation Wave In The Hotel Industry …” on November 18, 2015. More interesting news about InterContinental Hotels Group PLC (ADR) (NYSE:IHG) were released by: Fool.com and their article: “Hotel Stocks to Watch: InterContinental Hotels Group PLC and Homeinns Hotel Group” published on November 16, 2015 as well as Investorplace.com‘s news article titled: “Ex-Dividend Reminders Include Unilever plc (ADR) (UL)” with publication date: May 01, 2017.

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