Is Trivago Stock Finally Ready to Take Off?
It's been a brutal rookie year for Trivago (NASDAQ: TRVG) and its investors, but the stock may be bottoming out here. Shares of the hotel metasearch specialist opened 13% higher on Friday after Deutsche Bank analyst Lloyd Walmsley upgraded Trivago from Hold to Buy. He's sticking to his $10 price target, but with the beating the stock has taken lately that represents a healthy 50% of upside from Thursday's close.
Walmsley walked away from a Trivago analyst presentation on Thursday afternoon feeling as if clearer skies are ahead. He feels that the rough bidding environment that has rocked Trivago since its summertime peak will stabilize by the second half of next year, if not sooner. Shares were trading lower for the sixth consecutive month before Walmsley's upgrade pushed Trivago into positive territory for December.
Image source: Trivago.
Source: Fool.com
