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TripAdvisor (TRIP) Gains on Priceline (PCLN) Agreement Seems Like' Overreaction' - Janney

October 15, 2015 6:28 AM EDT

Janney is out with commentary on the TripAdvisor (Nasdaq: TRIP), Priceline (Nasdaq: PCLN) deal, which was announced early Wednesday.

Analyst Brian McGill sees action in TripAdvisor following the deal as an "overreaction." The analyst noted the following:

Booking.com will be the first PCLN brand to participate in instant book with Priceline.com, and Agoda.com likely to follow in the future. When someone clicks the "Book on TripAdvisor" button, their reservation will be handled by Booking.com without... More