Information Provided By:
Fly News Breaks for August 17, 2018
DESP
Aug 17, 2018 | 08:36 EDT
Morgan Stanley analyst Brian Nowak lowered his price target on Despegar.com shares to $22 from $24 as he contends the company's Q2 results highlight the challenges of sustaining profitable growth in the volatile LATAM online travel space. Citing his view that higher investments are likely required to drive faster top-line growth, he reduced his FY18 and FY19 EBITDA estimates by 3% and 7%, respectively, and keeps an Equal Weight rating on the shares.