TripAdvisor Inc (NASDAQ: TRIP)
TripAdvisor stock is having a great day in the market today after a steep climb yesterday on a deal with Marriott. Following the deal, Deutsche Bank weighed in today; exciting investors even more. Today, we’ll talk about the deal TripAdvisor made with Marriott, what Deutsche Bank had to say, and what we can expect to see from TRIP moving forward. So, let’s get right to it.
TripAdvisor’ Deal With Marriott
Yesterday, TripAdvisor announced that it had made a deal with Mariott International Inc (NASDAQ: MAR). The two companies will be teaming up to let users of the TripAdvisor website book rooms at Marriott hotels. Starting this summer, TripAdvisor will give visitors access to book rooms at more than 4,200 Marriott hotels. As a result of the announcement TripAdvisor shares soared in the market. Here’s what TripAdvisor’s CEO had to say in the announcement…
“We welcome Marriott to the Instant Booking platform, which provides travelers with a new, simplified booking functionality and an opportunity for Marriott to expand its relationship with guests before, during and after the trip,”
Deutsche Bank Weighed In On TRIP Today
Following the overwhelmingly positive news from TripAdvisor yesterday, the stock went soaring; and today, Deutsche Bank kept the bullish run going with their comments on the stock. In an announcement, the firm reiterated their “Buy” rating on TRIP; with a price target of $99. In their announcement, they also mentioned that aside from the recent deal with Marriott International, they are expecting to see two other major US chains to join TripAdvisor in the coming weeks. They also noted that investor sentiment is increasing around the stock as more deals with big chains lead to more sales and more opportunities for profit.
What To Expect From TripAdvisor Moving Forward
Moving forward, I’m expecting to see overwhelmingly positive news from TRIP in the short term and long term outlooks. Here’s how I see it…
Short Term – In the short term, investor excitement surrounding the Marriott deal is likely to continue sending the stock upward. Also, considering the comments by Deutsche Bank about the expectations of other major hotel chains joining the TripAdvisor service, we can expect more catalysts to be headed our way in the coming weeks.
Long Term – In the long term, I also have a relatively bullish view on TRIP. As the company continues to make deals with major hotel chains, more options will continue to become available to consumers; ultimately, driving sales in the process. As sales increase, profits will increase; leading to more investor excitement and more bullish activity down the road.
What Do You Think?
Where do you think TRIP is headed and why? Let us know in the comments below!