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Fly News Breaks for June 18, 2019
IHG
Jun 18, 2019 | 04:52 EDT
Barclays analyst Vicki Stern downgraded InterContinental Hotels Group to Underweight from Equal Weight and lowered her price target for the shares to 44 pounds from 47.37 pounds. Downside risks from a macroeconomic slowdown are not reflected in the stock at current valuation levels, Stern tells investors in a research note. The analyst sees 36% downside risk in InterContinental in the event of a recession.
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