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.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly