trivago N.V. (TRVG) PT Raised to $2.70 at Mizuho Securities
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Mizuho Securities analyst James Lee raised the price target on trivago N.V. (NASDAQ: TRVG) to $2.70 (from $2.30) while maintaining a Buy rating.
The analyst comments "The COVID-19 recovery stalled during the quarter due to lockdowns in Europe and rising cases in the US. However, management continues to expect travel activity to normalize in 2H21 due to expanded availability of vaccines and pent-up demand for travels in summer. Given the uncertain environment, management maintained its plans to cut expenses aggressively, leveraging the flexible cost structure. Despite the near-term headwind, we are maintaining our FY22 EBITDA at €59m and introduce FY23 EBITDA at €83m. Reiterate our Buy rating and raise PT from $2.30 to $2.70, representing 10x FY22 EBITDA."
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