Benchmark Downgrades TripAdvisor (TRIP) to Hold; No 2012 EBITDA Growth As Spending Ramps

Benchmark downgraded TripAdvisor (NASDAQ: TRIP) from Buy to Hold, price target remains $31.00.

Benchmark analyst says, "TripAdvisor reported decent 4Q11 results but issued disappointing guidance. 2012 revenue guidance was lower than anticipated with no EBITDA growth. TripAdvisor will aggressively spend on search engine marketing. The level of increased expenses is surprising. We downgrade as EBITDA growth and margin expansion appear a year away."

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 $34.34 yesterday.

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