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InterContinental Hotels: Bank of America still a buyer

( - Bank of America reiterates its "buy" recommendation on the share of InterContinental Hotels Group (IHG) with a new price target of 4,900 pence, judging that "operating performance through the Covid-19 outbreak proves the resilience of the group's model".

The broker points out the the hotel chain's multiple strengths: a light asset base, a favourable asset mix, a global presence, a developing portfolio (pipeline) and potential opportunities through reconversions.

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