UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on HomeAway on Valuation

Loading...
Loading...
In a report published Thursday, Credit Suisse analyst Dean Prissman reiterated a Neutral rating on
HomeAwayAWAY
, and raised the price target from $35.00 to $45.00. In the report, Credit Suisse noted, “We maintain our Neutral rating on HomeAway based on valuation. As we have noted before, we have a constructive view on AWAY given that its leadership position/scale in the nascent vacation rental market will enable it to further extend its lead; through the proliferation of features and tools that remove friction and risk from both the supply and demand sides of the transaction. We are encouraged by management's positive commentary on the PPB initiative, which we believe has the potential to increase both the growth trajectory and margin profile as this new stream of revenue should be at a higher operating margin vs. the subscription-based model. That said, we continue to view the PPB financial impact as more gradual in the near-to-medium term as AWAY balances the growth in its incremental supply with the corresponding growth in demand.” HomeAway closed on Wednesday at $42.96.
Posted In: Analyst ColorPrice TargetAnalyst RatingsCredit SuisseDean Prissman
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...