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TripAdvisor resumed with a Neutral at Citi

Citi resumed coverage of TripAdvisor (TRIP) with a Neutral rating and $16 price target after a period of having the firm’s rating suspended. While “encouraged” with continued growth at Viator, improving revenue declines at the Tripadvisor brand and a more streamlined ownership structure following the transaction with Liberty Tripadvisor, the firm views the risk/reward as balanced at current levels given more limited near-term visibility due to macro uncertainty, the analyst tells investors.

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