TripAdvisor price target raised to $34 from $27 at B. Riley

B. Riley raised the firm’s price target on TripAdvisor to $34 from $27 and keeps a Buy rating on the shares. The company’s Q4 results comfortably exceeded expectations with both core and Viator coming in better than expected, the analyst tells investors in a research note. The firm says management’s decision to withhold an outlook in light of the special committee leads it to believe “that a serious offer is likely on the table.” Fundamentally, it finds the deceleration in Viator’s Q4 bookings somewhat below expectations but also notes the margin improvement as a positive.