UPDATE: Deutsche Bank Reiterates on TripAdvisor Following In-Line 3Q Results

In a report published Thursday, Deutsche Bank analyst Lloyd Walmsley reiterated a Buy rating on TripAdvisor TRIP, but lowered the price target from $84.00 to $82.00. In the report, Deutsche Bank noted, “TripAdvisor reported in-line 3Q results with CPC revenue increasing 12.7% Y/Y, in range of buy-side expectations but slightly lighter than the Street. Hotel shopper growth continues to be strong at +37% Y/Y despite a small deceleration. The guide-down was largely expected and the outlook ahead appears better positioned to surprise to the upside from (1) TV spend kicking in, (2) improved mobile monetization, (3) meta improvement / lapping comps, and (4) TripConnect ramping.” TripAdvisor closed on Wednesday at $75.21.