Barclays lowered the firm’s price target on TripAdvisor (TRIP) to $13 from $15 and keeps an Underweight rating on the shares following the Q2 report. The anticipated sales recovery in Q3 got pushed out, and it isn’t assured that Q4 will flip positive either, the analyst tells investors in a research note. The firm says travel demand is showing signs of slowing, online travel agencies are leaning in on paid social, and Airbnb (ABNB) is reviving its experiences business, of which may negatively impact TripAdvisor going forward.
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Read More on TRIP:
- Tripadvisor, Inc. Earnings Press Release Available on Company’s Investor Relations Site
- TRIP Upcoming Earnings Report: What to Expect?
- TripAdvisor Announces New Loan Facility and Regulatory Disclosure
- TripAdvisor price target lowered to $20 from $28 at Citi
- TripAdvisor call volume above normal and directionally bullish