Benchmark maintains a 'Buy' on TripAdvisor (TRIP); Lowering Estimates on Moderating Global Travel Advertising
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Price: $25.56 +2.08%
Rating Summary:
11 Buy, 29 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
Rating Summary:
11 Buy, 29 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 8 | New: 36
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Benchmark maintains a 'Buy' on TripAdvisor (NASDAQ: TRIP) price target lowered $2 to $31.
Benchmark analyst says, "We lower our estimates for TripAdvisor to reflect a potential slowdown in global travel advertising spending. TripAdvisor, the only publicly traded pure-play travel advertising company, could see it revenue growth rate moderate to 20% in 2012, including the impact of the new Expedia (Nasdaq: EXPE) contract and site de-cluttering. Our 2012 EBITDA estimate is now $361 million, up 10% y/y, leading to adjusted 2012E EPS of $1.38."
"For 4Q11, we look for total revenue growth of 23.5% y/y to $136 million. We anticipate adjusted EBITDA could grow by 34% y/y to $60 million. Adjusted EPS could reach $0.22, with free cash flow per share of $0.24. For the full year 2011, TripAdvisor could record 31% y/y revenue growth driving EBITDA up 26% y/y to $338 million, EPS of $1.33 and free cash flow of $1.45 per share."
For an analyst ratings summary and ratings history on TripAdvisor click here. For more ratings news on TripAdvisor click here.
Shares of TripAdvisor closed at $25.68 yesterday.
Benchmark analyst says, "We lower our estimates for TripAdvisor to reflect a potential slowdown in global travel advertising spending. TripAdvisor, the only publicly traded pure-play travel advertising company, could see it revenue growth rate moderate to 20% in 2012, including the impact of the new Expedia (Nasdaq: EXPE) contract and site de-cluttering. Our 2012 EBITDA estimate is now $361 million, up 10% y/y, leading to adjusted 2012E EPS of $1.38."
"For 4Q11, we look for total revenue growth of 23.5% y/y to $136 million. We anticipate adjusted EBITDA could grow by 34% y/y to $60 million. Adjusted EPS could reach $0.22, with free cash flow per share of $0.24. For the full year 2011, TripAdvisor could record 31% y/y revenue growth driving EBITDA up 26% y/y to $338 million, EPS of $1.33 and free cash flow of $1.45 per share."
For an analyst ratings summary and ratings history on TripAdvisor click here. For more ratings news on TripAdvisor click here.
Shares of TripAdvisor closed at $25.68 yesterday.
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