Market Overview

UPDATE: Monness Crespi Hardt Upgrades TripAdvisor to Buy; 2013 Expectations Likely Conservative

Share:
Related TRIP
Benzinga's M&A Chatter for Wednesday August 24, 2016
Recode: Google Is Finding Ways To 'Piss Off' Yelp And TripAdvisor
Expedia Inks Red Lion Deal Amid Hilton, Marriott Booking Rivalry (Investor's Business Daily)

Monness Crespi Hardt upgraded TripAdvisor (NASDAQ: TRIP) from Neutral to Buy and announced a $60.00 price target.

Monness Crespi Hardt noted, "We are upgrading TRIP to Buy because we think 2013 expectations, which will surely follow management's conservative guidance, will likely be too low. We also see evidence that non-Expedia (EXPE-Neutral-$65.47) OTAs are accelerating their spending on TRIP, which has become a coveted neutral advertising partner after OTA acquisitions of formerly independent lead-gen providers. Management commentary suggested that pricing generally and Europe particularly are firming. Finally, valuation of other Internet advertising vertical leaders suggests plenty of room for multiple expansion, particularly if, as we believe, TRIP will eventually post solid upside to 2013 EBITDA guidance and our 2013 EBITDA expectations."

TripAdvisor closed at $46.90 on Wednesday.

Latest Ratings for TRIP

DateFirmActionFromTo
Aug 2016JefferiesMaintainsHold
Aug 2016Deutsche BankDowngradesBuyHold
Jul 2016Raymond JamesUpgradesUnderperformMarket Perform

View More Analyst Ratings for TRIP
View the Latest Analyst Ratings

Posted-In: Monness Crespi HardtAnalyst Color Upgrades Analyst Ratings

 

Related Articles (TRIP)

View Comments and Join the Discussion!