trivago jumps with Deutsche seeing signs of Booking.com 'inching back'
Shares of trivago (TRVG) are moving higher after Deutsche Bank analyst Lloyd Walmsley reported that Priceline's (PLCN) Booking.com advertisements are back on the trivago site in Germany. Walmsley, in a research note last night to investors, said he sees signs that Booking.com is "inching back to trivago, on the margin." The key advertiser returned to German points of sales on trivago.de after several weeks of essentially being absent from the site, the analyst wrote. Since late December, Walmsley has observed Booking.com ads back on the site in Germany as it continues an elevated level of testing with its ad spend on trivago. He sees the return to more normalized bidding levels in Germany as a positive and continues to view the risk/reward on trivago shares as "compelling." The analyst reiterated a Buy rating on the stock with a $10 price target. trivago in early trading is up 8%, or 57c, to $7.88. TRVG PCLN