In a note released Monday morning, Nomura Downgraded share of TripAdvisor 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 suggest moving to the side lines 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.
Following the release of this note, the company's stock price had fallen about 2 percent, at last check.
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