Morgan Stanley lowered shares of TripAdvisor (NASDAQ: TRIP) from an overweight rating to an equal weight rating in a research report released on Thursday morning. Morgan Stanley currently has $42.00 price target on the stock, down from their previous price target of $45.00.
“Our Overweight thesis on TripAdvisor centered on the long-term benefits from the transition to metasearch and a meaningful acceleration in revenue and profitability growth in 2013 on easier comps. We were disappointed with the 2013 guide of high-single digit EBITDA growth due to a new offline marketing campaign (low 20′s EBITDA growth guidance excluding the offline campaign). While we are cautiously optimistic that the offline marketing campaign will accelerate hotel shopper growth, there is some uncertainty and growth may be getting more expensive to achieve.,” the firm’s analyst wrote.
TripAdvisor traded up 1.99% on Thursday, hitting $44.415. TripAdvisor has a 1-year low of $28.63 and a 1-year high of $49.35. The stock’s 50-day moving average is currently $44.96. The company has a market cap of $6.345 billion and a price-to-earnings ratio of 31.79.
TRIP has been the subject of a number of other recent research reports. Analysts at JG Capital reiterated an overweight rating on shares of TripAdvisor in a research note to investors on Wednesday, February 13th. They now have a $50.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of TripAdvisor from $44.00 to $50.00 in a research note to investors on Wednesday, January 2nd. They now have a buy rating on the stock.
Eight equities research analysts have rated the stock with a buy rating, fourteen have given a hold rating, and one has assigned an underweight rating to the stock. TripAdvisor presently has a consensus rating of overweight and an average target price of $44.94.
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