Wunderlich hikes TripAdvisor target, upbeat about Liberty spinoff

Wunderlich's Blake Harper has hiked his TripAdvisor (TRIP +1.5%) target by $12 to $100, albeit while reiterating a Hold.

Harper cites a recent update to TripAdvisor's Hotel Listings page that he expects will yield "a better user experience and better monetization," the acquisition of local tours/activities site Viator, and a partnership with fast-growing car service Uber.

He's also positive on Liberty Interactive's (LINTA -0.2%) plans to spin off its 22% TripAdvisor stake (comes with 57% voting rights) into a new holding company, and sees the move as "a precursor to an eventual combination that enables TRIP to consolidate the voting control in a cash/stock deal."

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