Cantor Fitzgerald Upgrades TripAdvisor (TRIP) to Buy

Cantor Fitzgerald upgraded TripAdvisor (NASDAQ: TRIP) from Hold to Buy with a price target of $94.00 (from $92.00).

Analyst Naved Khan said, "We are raising our rating to BUY (from HOLD) as tailwinds from improving shopper monetization, accompanied by healthy double-digit shopper growth (with easing comps in 2H14) and higher conversions yield a meaningful pick-up in TRIP's top-line growth for the remainder of the year while successful transition to meta-search also positions the business for sustainable healthy growth over the medium/longer term. We see prospects for further upside from planned TV ad campaign and newer initiatives (e.g., instant booking, TripConnect)."

For an analyst ratings summary and ratings history on TripAdvisor click here. For more ratings news on TripAdvisor click here.

Shares of TripAdvisor closed at $81.37 yesterday.

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