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Fly News Breaks for August 4, 2016
TRIP
Aug 4, 2016 | 05:42 EDT
Piper Jaffray analyst Michael Olson attributes TripAdvisor's weaker than expected Q2 results to the Instant Book transition and worsening macro trends. The analyst, however, continues to believe that Instant Book will lead to a higher hotel shopper monetization rate and create stronger long-term economics for the company. Olson lowered his price target for TripAdvisor shares to $90 from $95 and reiterates an Overweight rating on the name.
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