UPDATE: Stifel Nicolaus Raises PT to $50 on TripAdvisor on Upside Potential
Stifel Nicolaus reiterated its Buy rating on TripAdvisor (NASDAQ: TRIP) and raised its price target from $44 to $50.
Stifel Nicolaus said, "We are increasingly confident in the market position and asset value of the company. Three major points: 1) The acquisitions of KAYAK and trivago by Priceline and Expedia, respectively, underscores the importance of travel media in the purchasing funnel, 2) Concerns over Google remain overblown, and could mitigate with a settlement with the FTC, and 3) Liberty Interactive Corp's increased stake removes the over-hang of a potential large sale. On the fundamental side, TripAdvisor will lap the revenue dislocations of the past year, facing easier comps while completing the mobile phone meta-hotel display and continue to work towards property-specific bid ranking."
TripAdvisor closed at $41.92 on Monday.
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