Deutsche Bank Downgrades TripAdvisor (TRIP) to Hold
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Deutsche Bank downgraded TripAdvisor (NASDAQ: TRIP) from Buy to Hold with a price target of $63.00 (from $71.00). Analyst Lloyd Walmsley highlighted several concerns.
"We downgrade shares of TRIP from Buy to Hold and cut our TP to $63 from $71 as the story migrates from a monetization problem to a monetization AND a traffic problem. We see a decline in desktop shoppers and sluggish mobile monetization gains as new risks to an already turbulent IB transition. We would get more positive with more evidence traffic growth can reaccelerate, or if we saw IB and/or mobile monetization clearly improving (beyond easy comps). We see some support to shares on strategic asset value but do not view that as enough to recommend the stock at current levels," said the analyst.
Shares of TripAdvisor closed at $63.59 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades TripAdvisor (TRIP) to Hold
- MoffettNathanson Downgrades AMC Networks (AMCX) to Sell
- Credit Suisse Downgrades Murphy Oil Corp. (MUR) to Underperform
Create E-mail Alert Related CategoriesAnalyst EPS View, Analyst PT Change, Downgrades
Related EntitiesDeutsche Bank
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!