TripAdvisor Shares Down Following Nomura Downgrade
In a note released Monday morning, Nomura downgraded shares of TripAdvisor (NASDAQ: TRIP) from Buy to Neutral while maintaining a $103 price target.
The firm stated that it continues to stand behind TripAdvisor's fundamentals, but warned that current levels adequately reflect the stock's value. With this in mind, Nomura suggested moving to the sidelines to wait for a more attractive entry point.
Nomura currently estimates $2.14 and $2.93, respectively, for TripAdvisor's Fiscal 2014 and 2015 EPS.
Shares of the company traded recently at $102.91, down 1.78 percent.
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