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Fly News Breaks for November 6, 2015
TRIP
Nov 6, 2015 | 05:48 EDT
Piper Jaffray analyst Michael Olson recommends using the pullback in shares of TripAdvisor after the company lowered its outlook as a buying opportunity. Management lowered fiscal year revenue guidance to "high teens" and EBITDA growth guidance to "slightly negative" entirely due to Instant Book, Olson tells investors in a post-earnings research note. While Instant Book is dilutive near-term, longer-term it will prove accretive, the analyst contends. He reiterates an Overweight rating on TripAdvisor with a $90 price target. The travel website is trading down 9%, or $7.51, to $75.60 in the pre-market.
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