Shares of TripAdvisor (TRIP) are soaring 5.05% in intraday trading on Thursday, as the travel review company receives a wave of positive analyst actions. The stock's surge comes on the heels of multiple firms raising their price targets, signaling growing confidence in TripAdvisor's future prospects.
Leading investment banks and research firms have adjusted their outlooks on TripAdvisor stock. Wedbush Securities raised its target price to $15 from $13, while UBS lifted its target to $16 from $15, maintaining a Neutral rating. BMO Capital Markets also joined the optimistic trend, increasing its price target to $15 from $13. These upgrades suggest that analysts are becoming more bullish on TripAdvisor's potential in the travel sector.
Despite the positive momentum, it's worth noting that the average analyst rating for TripAdvisor remains at "hold," with a mean price target of $17.19, according to FactSet data. As the company continues to navigate the evolving travel landscape, investors will be closely watching for further developments that could impact its performance and market position.
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