UPDATE: Stifel Reiterates on TripAdvisor on Evidence of Weak Engagement Metrics
In a report published Thursday, Stifel analyst Michael Purcell reiterated a Buy rating on TripAdvisor (NASDAQ: TRIP), but lowered the price target from $93.00 to $92.00.
In the report, Stifel noted, “TripAdvisor's engagement metrics continue to be very strong (260m uniques), and financial results were in-line, perhaps even a little better than feared. As previewed, total guidance was maintained despite a reduction to click-based ad outlook. Shares might digest the outlook but we believe weakness should be bought. We maintain that evidence of weak engagement metrics is necessary to derail the investment thesis and we see no evidence of this. Maintain Buy.”
TripAdvisor closed on Wednesday at $75.21.
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