RBC's Mahaney Cuts TripAdvisor's (TRIP) Below Market PT Even Lower
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RBC Capital analyst, Mark Mahaney, reiterated his Sector Perform rating on shares of TripAdvisor (NASDAQ: TRIP) and cut his below market price target to $50 after TRIP posted Q3 results below Street expectations and even lower RBC estimates.
A surprising portion of the guidance was a step-up in Variable Marketing investments in 2017 causing margins to be lower than in 2016 . Instant booking dilution and Mobile Monetization challenges persist taking estimates & and the price target lower.
The new PT is $50, down from $55, based on a blended average of a 45x P/E multiple and a 20x EV/EBITDA multiple on our 2018 estimates.
Shares of TripAdvisor closed at $63.10 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Mark Mahaney
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