Macquarie analyst Matthew Brooks upgraded TripAdvisor two notches to Outperform from Underperform with a Street-high $60 price target, up from $34. Brooks said TripAdvisor raised their EBITDA forecast to up from flat, and now believes it could grow above 20% in 2018, with a margin rise for the first time since 2011. Hotel revenue growth is challenged due to Google competition and OTA marketing choices, but TripAdvisor is cutting costs to maintain EBITDA and has the ability to cut direct marketing costs materially for another two quarters, Brooks wrote in a note to investors. Further, TripAdvisor's Experiences growth is scaling fast and is expected to be up 60% in 2018, contributing to Brooks' increased EBITDA estimate to $408M from $331M, and 2019 to $466M from $369M.