UPDATE: Wunderlich Securities Reiterates On TripAdvisor On Updated Hotel Listings And Expanding Local Business

In a report published Monday, Wunderlich Securities analyst Blake T. Harper reiterated a Hold rating on

, and raised the price target from $88.00 to $100.00. In the report, Wunderlich Securities noted, “Last week TripAdvisor, Inc. (TRIP) updated its Hotel Listings page that should lead to both a better user experience and better monetization. The company also closed its acquisition of Viator and announced a partnership with Uber, which should expand its local reach and monetization through the year. We are raising our price target to $100 from $88 as a result. In addition, this week Liberty (LINTA-$29.53, Buy) plans to spin-off its 22% economic and 57% voting stake in TRIP into a new company called Liberty TripAdvisor Holdings (TripCo). We view the spin off as a precursor to an eventual combination that enables TRIP to consolidate the voting control in a cash/stock deal. Given a 10-20% premium for the voting shares, we estimate the total dilution could be 2-4% if paid all in shares.” TripAdvisor closed on Friday at $101.99.