UPDATE: Citigroup Upgrades TripAdvisor to Buy on Valuation - Tripadvisor (NASDAQ:TRIP)

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Citigroup raised its rating on TripAdvisor (NASDAQ: TRIP) from Neutral to Buy with a $44 price target. Citigroup said, "A pullback in the stock (off 30% from its July 19th high and off 7% from its Q2 print) has created an interesting valuation entry point in the shares. TRIP is now trading at 19x 2013E P/E and 15x 2014E P/E. Given our outlook for 20% + EPS growth, we find this valuation attractive."TripAdvisor closed at $33.54 on Thursday.

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