Nomura Securities Downgrades TripAdvisor (TRIP) to Neutral
- Wall Street dips as third-quarter earnings season kicks off
- Market Wrap: IMF Cuts FY15, FY16 Global Growth Outlook; Pepsi 'Pops' on Q3 Results; Yum! Q3 China Comps Miss
- Adobe Systems (ADBE) Offers 3-Year Growth Strategy; Guides FY16 EPS, Revenue Below Views
- Biotech Sees Massive Selling... Again (IBB)
- After-Hours Stock Movers 10/06: (ADXS) (YUM) (ADBE) Lower (more...)
Nomura Securities downgraded TripAdvisor (NASDAQ: TRIP) from Buy to Neutral with a price target of $103.00 on valuation.
Analyst Anthony DiClemente comments, "TripAdvisor stock has increased ~30% YTD, following two quarters of positive results. We continue to stand behind the company’s fundamentals of 1) metasearch driving faster growth in user monetization, 2) continued global
user growth, and 3) instant booking path to drive higher CPCs. However, we believe valuation is full at current levels, and as such, we downgrade the stock to Neutral and await a better entry point."
Shares of TripAdvisor closed at $104.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Oppenheimer Downgrades Radware (RDWR) to Perform
- Piper Jaffray Cuts Price target on Illumina (ILMN) Following Preliminary 3Q15 Results
- Needham & Company Downgrades Teledyne (TDY) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!