Deutsche Bank Upgrades InterContinental Hotels Group (IHG) to Buy; Strong Balance Sheet

Deutsche Bank upgraded InterContinental Hotels Group (NYSE: IHG) to Buy, price target raised from 1365p to 1440p.

Deutsche analyst says, "IHG's strong balance sheet means that we believe that they can announce a special dividend as part of its final results (February 14th), which could continue in future given the low capital intensity of their model. Whilst we reduce our 2012E forecast by 4% for a harsher view on Europe and retain our forecasts elsewhere - we argue here why the group's big four owned assets could have a surprisingly good 2012. We believe that the shares are implying tough trading conditions or a lack of medium growth potential - we think this is unfair and so upgrade to Buy."

For an analyst ratings summary and ratings history on InterContinental Hotels Group click here. For more ratings news on InterContinental Hotels Group click here.

Shares of InterContinental Hotels Group closed at $18.28 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Upgrades Huizhou Desay Sv Automotive Co (002920:CH) to Hold
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Keefe, Bruyette & Woods Upgrades Nayax (NYAX) to Outperform