IHG Buys Back 10,000 Shares at $152.93 While JPMorgan Backs Loyalty Scheme
IHG•JPMorgan flagged IHG’s loyalty scheme and AI integration as its leisure sector ‘‘highest-conviction’’ pick, citing stronger-than-expected earnings potential. Meanwhile, on May 26 IHG repurchased 10,000 shares at an average $152.93, trimming its outstanding share count to 149.56 million.
1. JPMorgan Endorses Loyalty Scheme and AI Initiatives
JPMorgan named IHG its ‘‘highest-conviction’’ pick in the leisure sector, highlighting the company’s revamped loyalty scheme and expanded AI applications as key drivers for future revenue growth and improved customer engagement.
2. IHG Executes Share Repurchase Programme
On May 26, IHG purchased 10,000 ordinary shares through Goldman Sachs International at prices ranging from $152.20 to $153.70, averaging $152.93 per share. The repurchased shares will be cancelled, reducing the total outstanding shares to 149,557,985, excluding 5,431,782 held in treasury.
