TripAdvisor upgraded to Buy from Underperform at BofA

BofA analyst Nat Schindler upgraded TripAdvisor to Buy from Underperform with a price target of $38, up from $19. The upgrade is based on accelerating growth on Viator, as it is making strong in-roads in an otherwise underpenetrated online Experience booking market, the analyst tells investors in a research note. Management has highlighted a continued focus on brand marketing, especially in Viator, which could keep near-term margins in check, but BofA is positive on the longer-term growth trajectory in Viator.