Nomura Securities Downgrades TripAdvisor (TRIP) to Neutral
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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.
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