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UPDATE: Morgan Stanley Downgrades TripAdvisor to Equal-Weight; Growth Getting Expensive

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Morgan Stanley downgraded TripAdvisor (NASDAQ: TRIP) from Overweight to Equal-weight and lowers the price target from $45.00 to $42.00.

Morgan Stanley commented, "Our Overweight thesis on TripAdvisor centered on the long-term benefits from the transition to metasearch and a meaningful acceleration in revenue and profitability growth in 2013 on easier comps. We were disappointed with the 2013 guide of high-single digit EBITDA growth due to a new offline marketing campaign (low 20's EBITDA growth guidance excluding the offline campaign). While we are cautiously optimistic that the offline marketing campaign will accelerate hotel shopper growth, there is some uncertainty and growth may be getting more expensive to achieve."

TripAdvisor closed at $46.90 on Wednesday.

Latest Ratings for TRIP

DateFirmActionFromTo
Jan 2015Deutsche BankMaintainsBuy
Jan 2015Stifel NicolausDowngradesBuy
Dec 2014Buckingham ResearchInitiates Coverage onNeutral

View More Analyst Ratings for TRIP
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

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