Bank of America maintains a Buy rating on TripAdvisor TRIP and lowered its price target from $53 to $48.
Bank of America wrote, “TRIP reported Q2 rev/adj. EBITDA of $197.1mn/$96.9mn vs. Street estimates at $203.2mn/$90.8mn. Click, display, and other revenue y/y grew 13%, 14% and 59%, respectively. Light total revenue growth was primarily due to the associated traffic quality improvements. Excluding these changes and assuming ~2% FX headwind, we estimate total revenue would have grown 23% y/y to ~$208mn.”
TripAdvisor closed at $43.47 on Tuesday.
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