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June 19, 2019, 9:13 a.m. EDT

TripAdvisor stock rises after SunTrust upgrades to buy

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By Emily Bary

TripAdvisor Inc. shares /zigman2/quotes/206118480/composite TRIP +0.47% are up 3.2% in premarket trading Wednesday after SunTrust Robinson Humphrey analyst Naved Khan upgraded the stock to buy from hold. "Our buy thesis centers on our calculations that TRIP's rapidly (+30% annual growth) expanding experiences segment now represents nearly a third of sales and a solid majority of the stock's intrinsic value, while the multiple on Ebitda appears to us to place far more emphasis on the slow-growing core," Khan said. "Experiences has now reached critical mass, which coupled with stabilization in core should help drive accelerating growth in overall top line in FY20/beyond, in our view." Khan maintained his $60 price target on the stock, which has dropped 14% so far this year as the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.09% has climbed 16%.

/zigman2/quotes/206118480/composite
US : U.S.: Nasdaq
$ 38.87
+0.18 +0.47%
Volume: 383,330
Oct. 15, 2019 12:21p
P/E Ratio
40.06
Dividend Yield
N/A
Market Cap
$5.39 billion
Rev. per Employee
$479,798
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/zigman2/quotes/210599714/realtime
US : S&P US
2,998.50
+32.35 +1.09%
Volume: 716.19M
Oct. 15, 2019 12:21p
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