Oppenheimer Initiates Outperform On Liberty TripAdvisor Holdings Shares, $38 PT

In a research report issued yesterday, Oppenheimer analyst Manish Hemrajani initiated coverage on Liberty TripAdvisor Holdings. (NASDAQ:LTRPA) with an Outperform rating and a $38 price target.

Hemrajani commented: “A tracking stock, LTRPA consists of a 21% economic interest/40% voting control in TripAdvisor and a 96% interest in online retailer BuySeasons. We view LTRPA favorably given the underlying strength in TripAdvisor’s attractive/robust business model, current valuations and potential takeout possibility. LTRPA shares currently trade at a discount to the market value of its TripAdvisor stake. Based on our $99 price target on TRIP, we arrive at a $38 PT on LTRPA, a 33% upside opportunity from current levels. We see LTRPA as an appealing alternative/add-on to TRIP given a more favorable risk/reward ratio and control interest.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Manish Hemrajani has a total average return of 3.9% and a 35.7% success rate. Hemrajani is ranked #1484 out of 3337 analysts.

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