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In a report published Thursday, Deutsche Bank analyst Lloyd Walmsley reiterated a Buy rating and $102.00 price target on
TripAdvisorTRIP.
In the report, Deutsche Bank noted, “Our updated analysis shows a growing footprint of hotel supply on TripAdvisor Instant Book (IB), despite no meaningful announcements around new IB partners. Our data shows 84% of top ranked US hotels have an option with IB as of late December up from 58% in our October analysis. When TripAdvisor increases the exposure of this footprint to a higher percentage of traffic, we expect it to be a positive impact on revenue per hotel shopper. We expect the ramp to be slow. We remain positive on TripAdvisor shares longer-term though we still see Street estimates as too high for 2015 and look for early 2015 guidance below consensus.”
TripAdvisor closed on Wednesday at $70.84.
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