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TripAdvisor price target lowered to $12 from $15 at Wedbush
Wedbush analyst Scott Devitt lowered the firm’s price target on TripAdvisor (TRIP) to $12 from $15 and keeps a Neutral rating on the shares. The firm notes Tripadvisor reported weak Q4 results with revenue and adjusted EBITDA below expectations. In the quarter, the company realigned financial results into new reportable segments. This change effectively removes intersegment eliminations, which had primarily represented revenues recognized by Brand Tripadvisor from affiliate marketing fees paid by Viator and TheFork.
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