---
title: "InterContinental Hotels: Strong Q2 Outperformance Drives Modest Forecast Upgrades and 22% Upside on Conviction List"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295633145.md"
description: "Goldman Sachs analyst Ben Andrews maintained a Buy rating on InterContinental Hotels with a $190 price target, citing strong Q2 performance including 5% net system room growth and better-than-expected RevPAR. Adjusted EPS beat consensus, and management clarified cost issues as timing-related. Forecasts were modestly upgraded for FY26, supporting the stock's position on the Conviction List with ~22% upside. Jefferies also maintained a Buy rating with a $195 target."
datetime: "2026-08-12T08:06:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295633145.md)
  - [en](https://longbridge.com/en/news/295633145.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295633145.md)
generator: "portal-rs"
---

# InterContinental Hotels: Strong Q2 Outperformance Drives Modest Forecast Upgrades and 22% Upside on Conviction List

InterContinental Hotels, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Ben Andrews from Goldman Sachs maintained a Buy rating on the stock and has a $190.00 price target.

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Ben Andrews has given his Buy rating due to a combination of factors linked to InterContinental Hotels’ strong operational and financial performance. The company delivered net system room growth of about 5% year-on-year, exceeding market expectations, while global RevPAR trends in the second quarter were better than the sell side had anticipated, despite regional pressures from the Middle East conflict and softer momentum in China.

On the earnings side, adjusted EPS growth outpaced consensus by roughly three percentage points, and management clarified that the higher cost growth seen in the first half was largely a timing issue rather than a structural concern, reaffirming full-year cost growth guidance of 1–3%. Based on these trends, Andrews has modestly raised his forecasts, now projecting RevPAR to grow about 3.45% and EPS to increase around 14% for FY26, which supports maintaining IHG on the Conviction List with an implied upside of roughly 22%.

In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $195.00 price target.

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## Related News & Research

- [InterContinental Hotels Group PLC Announces Transaction in Own Shares - November 02 | IHG Stock News](https://longbridge.com/en/news/303912866.md)
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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**