StreetView: Brokerages raise Tripadvisor PTs on special committee to explore sale

Liberty TripAdvisor Holdings

16/02/2024 14:00

** Brokerages have raised PTs for online travel agent
Tripadvisor  TRIP.O  after co said it has formed a committee to
explore potential sale
    ** Co approached by at least one bidder for controlling
stake in Tripadvisor
    ** Reported Q4 adjusted profit 38 cents/shr, above est 22
cents/shr - LSEG data
        ** 6 of 21 brokerages rate the stock "buy" or higher, 10
"hold" and 5 "sell" or lower; their median PT is $27
        
  
        STOCK PERFORMANCE DRIVEN BY UNCERTAIN SALE
  
        
  
        ** BTIG (PT: $35 from $30; rating: 'buy') says "no news
on who might be on the other side of a transaction"
        ** D.A. Davidson (PT: $31 from $25; rating: 'buy') says
"TRIP's share price performance in the coming weeks to be less
dependent on business fundamentals, until the Street gets more
clarity on the possibility of a takeout/transaction" 
    ** Barclays (PT: $20 from $15; rating: 'underweight') says
"buyback on pause pending special committee outcome is the key
focal point for investors" 
    ** Jefferies (PT: $18 from $17; rating: 'underperform') says
"stock already largely prices-in a potential transaction, which
we believe is premature given ongoing uncertainty about whether
there is actually an interested party"

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))