Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Stifel Nicolaus Cuts Travelzoo to Sell


From Standard & Poor's Equity Research

Stifel Nicolaus downgraded Travelzoo (TZOO) to sell from hold, noting advertising trends and stock valuation.

Analyst Scott Devitt says he has seen more advertising for sites such as Sherman's Travel and Booking Buddy in locations that were occupied exclusively by Travelzoo. He believes Travelzoo's fair value is almost 26% below current levels. The company is controlled by Ralph Bartel, who filed to sell 1 million shares in July, which should raise total float by 33%; with the company's cash balance down to $25 million, opportunity is reduced for further near-term buybacks. Devitt believes inability for Travelzoo to materially exceed expectations, plus more liquid stock, will allow Travelzoo equity to become more rationally valued.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus