TripAdvisor upgraded to Buy at BofA on ‘clearer catalyst path’

As previously reported, BofA upgraded TripAdvisor (TRIP) to Buy from Neutral with a price target of $15, up from $14. Driven by accelerating activist engagement with Starboard Value’s growing involvement and rising strategic optionality, the firm sees “a clearer catalyst path for value realization,” the analyst tells investors. The firm’s valuation analysis suggests that Viator and TheFork together could be worth more than $2.5B, or roughly twice Tripadvisor’s current $1.3B enterprise value, the analyst added.