{"id":143405,"date":"2020-04-17T17:10:21","date_gmt":"2020-04-17T17:10:21","guid":{"rendered":"https:\/\/www.bnreport.com\/intercontinental-hotels-double-upgraded-to-overweight-by-barclays-on-expected-material-share-price-recovery\/"},"modified":"2020-04-17T17:10:21","modified_gmt":"2020-04-17T17:10:21","slug":"intercontinental-hotels-double-upgraded-to-overweight-by-barclays-on-expected-material-share-price-recovery","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/intercontinental-hotels-double-upgraded-to-overweight-by-barclays-on-expected-material-share-price-recovery\/","title":{"rendered":"Intercontinental Hotels double upgraded to overweight by Barclays on expected \u201cmaterial\u201d share price recovery"},"content":{"rendered":"

Intercontinental Hotels<\/a> Group PLC (LON:IHG<\/a>) shot up on Friday after receiving a double upgrade to overweight from underweight by Barclays in a sector review as it's analysts expect a \u201cmaterial\u201d share price recovery by the FTSE 100-listed stock.<\/p>\n

Overall, the bank's analysts have a negative view on the wider European hotel industry, which they think is vulnerable to another setback.<\/p>\n

READ: Intercontinental Hotels upgraded to buy as Deutsche Bank predicts fast recovery for hotels once pandemic stabilises<\/a>[hhmc]
\n<\/h4>\n

Although 2021 is expected to see a recovery, revenue per available room could still be 15-30% below last years levels, the analysts said.<\/p>\n

However, they think an opportunity lies in the longer term for IHG, with the Holiday Inn owner standing out as the top pick in the sector, although they slashed its price target to 3,800p from 4,200p.<\/p>\n

\u201cWe see IHG having the lowest operating leverage by far among European peers and hence see comparative resilience in earnings in 2021,\u201d the analysts said.<\/p>\n

\u201cWhile we see near-term risks for the sector as the market digests what we expect to be a slow recovery over the next 12 months, we see long-term value in IHG which we consider to be the highest quality name in the sector,\u201d they added.<\/p>\n

IHG shares jumped 9% higher to 3,490p on Friday afternoon.<\/p>\n

Whitbread downgraded[hhmc]
\n<\/h4>\n

Blue-chipRead More \u2013 Source<\/a>
\n[contf]
\n[contfnew]
\n <\/p>\n

Proactiveinvestors<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

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