UPDATE: Nomura Initiates Coverage on TripAdvisor
In a report published Wednesday, Normua analyst Anthony DiClemente initiated coverage on TripAdvisor (NASDAQ: TRIP) with a Buy rating, establishing $100.00 price target.
According to the report, as the world's largest travel planning platform, analysts believe TRIP will benefit from its natural fit with mobile devices.
“We recommend shares for three reasons: 1) TRIPS's conversion from pop-up windows to metasearch - a much more user-friendly platform - will lead to faster revenue-per-user growth than expected; 2) hotel shopper growth is likely to grow faster than expected, driven by mobile and international; and 3) 2014 plans for a booking path on TripAdvisor will reduce friction for users, allowing mobile users to book a hotel reservation without being forced to leave the TripAdvisor app,” the report noted.
TRIP closed Tuesday at $84.31.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.