Wedbush raised the firm's price target on TripAdvisor (TRIP) to $20 from $19 and keeps an Outperform rating on the shares. The firm notes that on June 15, 2026, TripAdvisor announced it has entered into a put option agreement to sell TheFork, its European online restaurant reservation and management platform, to American Express (AXP) for $700M in an all-cash transaction, with net proceeds expected to closely approximate the gross purchase price due to minimal anticipated tax leakage. In Wedbush's view, the receipt of $700M in proceeds against a roughly $1.5B market cap is a transformational balance sheet event, and combined with the $110M existing repurchase authorization and the potential for an incremental authorization, the firm believes TripAdvisor is positioned to return a meaningful percentage of capital to shareholders over the next 12-24 months.
