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Despegar.com price target lowered to $8 from $12 at Citi

Citi analyst Joao Pedro Soares lowered the firm’s price target on Despegar.com to $8 from $12 and keeps a Buy rating on the shares. The analyst updated estimates to reflect the Q3 results and new gross bookings assumptions. Pedro Soares increase Despegar.com’s average ticket price, especially in Mexico and other Latin America countries, which more than offsets lower volumes.

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