Benchmark Starts TripAdvisor (TRIP) at Buy; The Global Travel Content Leader
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Price: $10.00 -0.3%
Rating Summary:
9 Buy, 31 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 31 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark initiates coverage on TripAdvisor (Nasdaq: TRIP) with a Buy. PT $33.00.
Benchmark analyst said, "We initiate coverage of TripAdvisor with a Buy rating and $33 price target via its when-issued security (Nasdaq: TRIPV). Expedia (Nasdaq: EXPE)(Hold-PT $31) is readying the spin off of TripAdvisor in an attempt to unlock hidden value from one of its fastest growing assets. The spin-off should be completed on or around December 20, creating two independent, separate and distinct companies trading under tickers EXPE and TRIP. TripAdvisor represents the only publicly-traded, pure-play travel advertising company. It stands among the fastest growing Internet businesses, posting revenue growth of over 30% y/y for the last several quarters. It should sustain superior growth of 20% annually. We project 2012E revenue could grow 25% to $804 million leading to cash flow EBITDA of $420 million, EPS of $1.66 and free cash flow of $1.84 per share. We recommend purchase of TripAdvisor."
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 $0.00 yesterday.
Benchmark analyst said, "We initiate coverage of TripAdvisor with a Buy rating and $33 price target via its when-issued security (Nasdaq: TRIPV). Expedia (Nasdaq: EXPE)(Hold-PT $31) is readying the spin off of TripAdvisor in an attempt to unlock hidden value from one of its fastest growing assets. The spin-off should be completed on or around December 20, creating two independent, separate and distinct companies trading under tickers EXPE and TRIP. TripAdvisor represents the only publicly-traded, pure-play travel advertising company. It stands among the fastest growing Internet businesses, posting revenue growth of over 30% y/y for the last several quarters. It should sustain superior growth of 20% annually. We project 2012E revenue could grow 25% to $804 million leading to cash flow EBITDA of $420 million, EPS of $1.66 and free cash flow of $1.84 per share. We recommend purchase of TripAdvisor."
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 $0.00 yesterday.
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