Tripadvisor Inc Common Stock (NASDAQ: TRIP) is having an overwhelmingly strong day in the market today. However, if you dig into press releases, you’ll see that the company hasn’t released any news that would suggest this kind of rise would be coming. At the end of the day, the gains are the result of takeover speculation. Today, we’ll talk about the speculated takeover, what we’re seeing from TRIP, and what we’ll be watching for ahead.
TRIP Gains On Takeover Speculation
As mentioned above, Tripadvisor is having an incredibly strong day in the market today. However, the company hasn’t released any news that would lead investors to believe that these type of gains were coming. So, what’s the big deal? Well, the gains seem to be fueled by takeover speculation.
For the past couple of months, takeover chatter has been swirling around the company. Today, we’ve seen quite a few different posts throughout various social channels of either a takeover in the works or the idea that TRIP is primed for a takeover as we speak. In fact, even analysts are getting in on the chatter.
On Monday, SunTrust Robinson Humphrey increased the target price on TRIP. In a note, the analyst increased the target price on the stock from $34 to $37. In the note, the analyst said that the company was a “potential take out candidate.”
Nonetheless, it’s important to keep in mind that at the moment, this is all speculation. There has been no news surrounding a potential takeover from the company, nor a potential suitor. So, if you’re going to jump in on this move, please make sure to do so with caution.
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