Mizuho analyst James Lee lowered the firm’s price target on TripAdvisor to $22 from $26 and keeps a Neutral rating on the shares. The company’s revenue and EBITDA beat expectations due to a faster than anticipated recovery in travel, but its EBITDA guidance came in below expectations due to increased investments in Viator and mix shift to the lower margin businesses, Lee tells investors in a research note.
Published first on TheFly
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