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Fly News Breaks for July 18, 2019
IHG
Jul 18, 2019 | 05:11 EDT
RBC Capital analyst Julian Easthope downgraded InterContinental Hotels Group to Underperform from Sector Perform and lowered his price target for the shares to 45 pounds from 47.37 pounds. The analyst is more cautious on the hotel sector given the weakening economic backdrop. He cites valuation for the downgrade of InterContinental with the stock up 31% year-to-date amid limited RevPAR gains.
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