TripAdvisor price target lowered to $15 from $18 at Wedbush

Wedbush analyst Scott Devitt lowered the firm’s price target on TripAdvisor (TRIP) to $15 from $18 and keeps a Neutral rating on the shares. The firm notes the company announced a strategic shift last quarter, repositioning the business through narrowing focus at Brand Tripadvisor and managing the legacy business for margins stability, unifying the team with Viator, and more deeply leveraging the company’s data to iterate on AI-enabled offerings that improve the traveler journey. As a result, investor focus will shift primarily to the company’s margin trajectory and a potential reacceleration in Viator revenue growth. Wedbush lowers its near-term estimates slightly, waiting for more positive commentary from management offering more visibility into the coming quarters.