UPDATE: JG Capital Initiates Coverage on TripAdvisor with Overweight Rating, $50 PT
In a report published Monday, JG Capital initiated coverage on TripAdvisor (NASDAQ: TRIP) with an Overweight rating and $50.00 price target.
JG Capital noted, “TripAdvisor is the leader of travel review websites in terms of traffic, content scale and social integration, with a large and expanding addressable market. TripAdvisor serves a valuable lead source to OTAs & hoteliers. Traffic growth has continued to be strong and we believe hotel shoppers in 2013 can continue to grow ~30% y/y. Hotels are increasingly shifting their marketing spend from offline to online channels, and there is strong growth potential from increased international traffic and monetization. TRIP has leveraged social integration far better than its competition. TripAdvisor can extend its presence to mobile devices, and into new geographies and languages. We see the meta display ad unit in smart phones as a step in monetizing smart phones.”
TripAdvisor closed on Friday at $44.12.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.