- Barclays analyst Mario Lu double downgraded TripAdvisor Inc TRIP to Underweight from Overweight with a price target of $30 (suggesting 9% downside) down from $49.
- Lu said with the recovery in global travel "effectively halted" in Q3 as the delta variant emerged, investors are shifting focus to longer-term themes such as the continued shift to alternative accommodations and changing user behavior due to a more flexible work schedule, "neither of which directly benefits TripAdvisor."
- The analyst added that the company's bookings path has shifted over the last few years and that other channels such as social media, online travel agencies, and organic search will continue to take share versus metasearch.
- Price Action: TRIP shares are trading lower by 2.73% at $32.07 in premarket on the last check Monday.
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