TripAdvisor price target raised to $23 from $20 at Mizuho

Mizuho raised the firm’s price target on TripAdvisor to $23 from $20 and keeps a Neutral rating on the shares post the Q4 report. The recovery of travel trends was encouraging, with revenue and EBITDA coming in above expectations, driven by auction pricing strength for hotel ads, and outperformance at Viator and dining reservations, the analyst tells investors in a research note. The firm says that although TripAdvisor’s fiscal 2024 implied sales guidance was below the Street due to normalized booking windows and tough compares, it expects improving margins from Viator and TheFork.