TripAdvisor upgraded to Neutral from Underperform at Mizuho

Mizuho analyst Lloyd Walmsley upgraded TripAdvisor (TRIP) to Neutral from Underperform with a price target of $17, up from $14. The firm believes the company’s traffic weakness is now better reflected in the shares. In addition, TripAdvisor has taken “direct and bold action” with an $85M cost reduction plan and has pivoted its entire structure to support its faster-growing Experiences segment, the analyst tells investors in a research note. As such, Mizuho now sees the stock’s upside/downside risk as more balanced.