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Fly News Breaks for June 29, 2016
TRIP
Jun 29, 2016 | 06:32 EDT
Piper Jaffray analyst Michael Olson says he's more confidence in TripAdvisor's relevance in non-hotel content following his firm's survey of 1,500 consumers. The Street is under-modeling this opportunity, Olson tells investors in a research note. He estimates TripAdvisor's non-hotel content will be a $500M business by 2018, versus $230M in 2015. Non-hotel traffic to TripAdvisor sites monetizes at 1/10th the rate of the hotel segment, but its efforts with Viator, LaFourchette and vacation rentals should drive meaningful improvements in monetized users, the analyst contends. He keeps an Overweight rating on TripAdvisor with a $95 price target.
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