RBC Capital Remains Sidelined Following TripAdvisor's (TRIP) Better Than Expected 4Q
RBC Capital reiterated a Sector Perform rating on TripAdvisor (NASDAQ: TRIP), and cut the price target to $70.00 (from $84.00), following the company's 4Q earnings report. TRIP reported revenue of $309MM, beating the Street at $298MM. EBITDA of $87MM also beat the Street’s $82MM, as did adjusted EPS of $0.45 vs. consensus $0.33.
Analyst Mark Mahaney commented, "TRIP posted a better than expected qtr, but called for meaningful investments and limited Rev growth in 2016. Ests come down. Instant Book is continuing to roll-out globally and management sounded confident in its l-t vision. Maintain Sector Perform, PT reduced to $70."
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Shares of TripAdvisor closed at $54.35 yesterday.