TripAdvisor price target lowered to $21 from $30 at Wedbush

Wedbush lowered the firm’s price target on TripAdvisor to $21 from $30 and keeps a Neutral rating on the shares. Tripadvisor provided Q2 and FY24 guidance that was below the firm’s estimates and consensus, and Wedbush sees an opportunity for multiple expansion should the company validate Viator’s margin potential in the coming quarters and/or reinvigorate growth in the core business next year, the analyst tells investors in a research note. The risk/reward is compelling despite the lack of near-term catalysts, Wedbush says.