Monness Crespi & Hardt upgraded shares of TripAdvisor (NASDAQ: TRIP) from a neutral rating to a buy rating in a research note released on Thursday morning. They currently have $60.00 price target on the stock.
“We are upgrading TRIP to Buy because we think 2013 expectations, which will surely follow management’s conservative guidance, will likely be too low. We also see evidence that non-Expedia (EXPE-Neutral-$65.47) OTAs are accelerating their spending on TRIP, which has become a coveted neutral advertising partner after OTA acquisitions of formerly independent lead-gen providers. Management commentary suggested that pricing generally and Europe particularly are firming. Finally, valuation of other Internet advertising vertical leaders suggests plenty of room for multiple expansion, particularly if, as we believe, TRIP will eventually post solid upside to 2013 EBITDA guidance and our 2013 EBITDA expectations.,” the firm’s analyst wrote.
Shares of TripAdvisor traded up 1.99% during mid-day trading on Thursday, hitting $44.415. TripAdvisor has a one year low of $28.63 and a one 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 P/E ratio of 31.79.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley downgraded shares of TripAdvisor from an overweight rating to an equal weight rating in a research note to investors on Thursday. They now have a $42.00 price target on the stock, down previously from $45.00. Separately, 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.
Eight investment analysts have rated the stock with a buy rating, fourteen have given a hold rating, and one has issued an underweight rating to the company. The stock presently has a consensus rating of overweight and a consensus price target of $44.94.
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