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Research Alert: CFRA Keeps Hold Opinion On Shares Of Tripadvisor, Inc.

05/07/2021 14:02

06:00 PM EDT, 05/07/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target by $6 to $48 on '22 price-to-sales of 5.1x, ample vs. peers. We cut '21's EPS of $0.53 to a $0.02 loss and keep '22's EPS of $1.31. EXPE sees a bifurcated (and uneven) travel recovery with a continued sequential improvement in the U.S. (amid an accelerated vaccine rollout) vs. lingering stagnation in Europe and elsewhere (where lockdowns have stubbornly persisted). Altogether, TRIP should benefit from a release of pent-up demand starting this summer, likely accelerating in '22. We are cautiously optimistic on TRIPAdvisor Plus, a new subscription-based offering (in beta testing), for which TRIP sees a potential long-term opportunity in the "tens of millions of subscribers and a multibillion-dollar recurring revenue stream." Q1 adjusted loss per share of $0.39 vs. EPS of $0.07 was $0.07 wider than the consensus loss. Amid the lockdown, revenue fell 56%. Adjusted EBITDA loss was $26M vs. a $40M gain. We see an ongoing focus on cost control and liquidity amid the Covid-19 disruption.