Jefferies Lifts Numbers on TripAdvisor (TRIP) Post Q2 Earnings, Keeps 'Hold'
Jefferies boosted its price target on TripAdvisor (NASDAQ: TRIP) from $49 to $60 following Q2 results, but maintained a Hold rating.
"TripAdvisor reported a Beat quarter and reiterated guidance for FY13. Initial results from its meta-search transition are encouraging but uncertainties remain - 3Q will be the first full quarter after 100% meta roll-out. Margin expansion is now visible beyond 2013 (albeit pressured in the near-term) but competition is still a concern. We maintain Hold and raise PT to $60."
The firm trimmed Q3 EPS from $0.43 to $0.40, raised FY 2013 EPS from $1.61 to $1.68 and raised FY 2014 EPS from $1.87 to $2.18.
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 $61.14 yesterday, with a 52 week range of $28.63-$65.41.
"TripAdvisor reported a Beat quarter and reiterated guidance for FY13. Initial results from its meta-search transition are encouraging but uncertainties remain - 3Q will be the first full quarter after 100% meta roll-out. Margin expansion is now visible beyond 2013 (albeit pressured in the near-term) but competition is still a concern. We maintain Hold and raise PT to $60."
The firm trimmed Q3 EPS from $0.43 to $0.40, raised FY 2013 EPS from $1.61 to $1.68 and raised FY 2014 EPS from $1.87 to $2.18.
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 $61.14 yesterday, with a 52 week range of $28.63-$65.41.