After TripAdvisor (TRIP) announced this morning a deal to acquire Liberty Tripadvisor (LTRPA), BTIG analyst Jake Fuller said the deal “effectively amounts to a buyback with the added benefit that it is super voting shares that it is bringing in.” This transaction will clean up the control structure and Liberty Tripadvisor’s “unwieldy balance sheet” was an impediment to any potential buyer, added the analyst. The firm, which notes that its estimates are under review, has a Buy rating and $20 price target on TripAdvisor shares.
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