Piper Jaffray analyst Michael Olson downgraded TripAdvisor to Neutral saying estimates may move lower as the company potentially increases investment in re-education. The investment, while not yet confirmed by the company, is the right strategic move for long-term growth potential, Olson tells investors in a research note. He believes, however, that allocating more resources to brand spend would be "detrimental" to 2017 EBITDA relative to current consensus estimates. Olson thinks TripAdvisor shares may be range-bound through the remainder of the year and he lowered his price target for the stock to $47 from $60.