UPDATE: Morgan Stanley Upgrades TripAdvisor to Overweight; Concerns Addressed
Morgan Stanley raised its rating on TripAdvisor (NASDAQ: TRIP) from Underweight to Overweight and increased its price target from $31 to $41.
Morgan Stanley said, "We believe management is altering its monetization strategy for the better by testing a meta display and improving bidding visibility for advertisers. We expect hotel shopper growth to remain robust and pricing headwinds to dissipate, leading to TRIP meaningfully beating 2013 consensus estimates."
TripAdvisor closed at $34.31 on Friday.
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