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Fly News Breaks for June 17, 2015
TRIP
Jun 17, 2015 | 13:57 EDT
After TripAdvisor (TRIP) announced a deal to add Marriott (MAR) properties to its Instant Book platform, Piper Jaffray pointed out that the platform is now being used by 3 of the top 5 global hotel chains and its believes the momentum of the product may pressure larger OTAs to join. The firm, which noted that investors have been skeptical since TripAdvisor has not landed a top OTA yet, reiterated its Overweight rating and $100 price target on the stock, which is up nearly 10% to $83.78 in afternoon trading.
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