InterContinental Hotels Group PLC
IHG: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 8,399.00 | Snmn | Qgmhgsh |
InterContinental’s Demand Improvement Continues, Despite Economic Growth Angst; Shares Attractive
We acknowledge the uncertain economic terrain but think InterContinental's demand can navigate higher in 2023, even should a mild recession occur, stoked by the ingrained desire to travel, remote work flexibility, and service consumption wallet share. We believe the market is discounting shares of travel operators like IC, which trades at a 30% discount to our $71 fair value estimate.