Tripadvisor stock rises amid double upgrade from Bank of America
Yahoo Finance Live checks out Tripadvisor shares after boasting a double upgrade from Bank of America analysts.
DAVE BRIGGS: My play is Tripadvisor. The stock surging at a double upgrade from Bank of America to buy from underperform. The bank anticipates upside of almost 60% as consumers book more travel. Analyst Nat Schindler writing, quote, "Core trip remains a cash cow that, while not a significant grower over time, can both fund and drive customers to high growth Viator."
Now you may not have heard of that. That is one of the largest online tour and activity booking agencies that Tripadvisor acquired back in 2014. Viator has been arguably Trip's best performing brand recently. Shares up well over 5% earlier today, have come back down to earth, just over 3% up on the day. They will report earnings on Tuesday the 14th. Still seeing that beneficiary of the conversion from that I mentioned earlier, goods to experience as people still traveling.
SEANA SMITH: Yeah, certainly, and this call here on Tripadvisor is just the latest upgrade that we've seen overall in the travel sector. We've talked a lot about Citi's recent call on the cruise lines. People spending more as they plan out some of these trips. Tripadvisor obviously a huge beneficiary, as people do plan their upcoming travel. You've got to question, though, if we are headed for such a slowdown, what some are still predicting that we could see. Even though there is this demand to travel right now, you might be secondguessing some of those trips, at least in the short-term.
JOSH SCHAFER: But if you are traveling, which right now, it seems like people are, right?
SEANA SMITH: [INAUDIBLE]
JOSH SCHAFER: You have to use Tripadvisor or something like it, right? So I think that's where it is for now, you're right. In six months, we might be having a different conversation.
SEANA SMITH: Yeah, exactly.