UPDATE: Citi Upgrades TripAdvisor (TRIP) to Buy

March 2, 2021 5:04 AM EST
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Price: $52.58 +0.42%

Rating Summary:
    10 Buy, 29 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - March 2, 2021 5:05 AM EST)

Citi analyst Jason Bazinet upgraded TripAdvisor (NASDAQ: TRIP) from Neutral to Buy with a price target of $62.00 (from $29.00).

The analyst comments "Tripadvisor is testing a new subscription service that costs $99 per year. Consumers that sign up for Plus will receive the fees that hotels currently pay to the OTAs. Our analysis suggests Plus may reach 10 million subs, akin to a new $1 bn business. (Recall, Tripadvisor generated $1.56 bn in revenues in 2019.) In short, we view Plus as a thesis changer."

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 $49.50 yesterday.

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