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CFRA lifts TripAdvisor shares to 'hold'

CFRA upgraded TripAdvisor Inc. shares to "hold" from "sell," citing valuation.

Analyst Tuna Amobi noted that the online travel company's shares are down 14% in 2017, year-to-date, which is below CFRA's 12-month target price of $45.

"We note somewhat encouraging Q1 gains in click-based ads and transaction fees in [the] hotel segment (vs. display ads and subscriptions), plus growth in non-hotel businesses (attractions, restaurants, vacation rentals)," Amobi wrote in a May 26 note.