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TripAdvisor (TRIP +3.9%) opens higher after receiving a two-notch upgrade to Overweight from...

TripAdvisor (TRIP +3.9%) opens higher after receiving a two-notch upgrade to Overweight from Morgan Stanley's Scott DeVitt, who's enthusiastic about a new monetization strategy focused on a metasearch engine (kind of like Kayak) rather than pop-up windows. DeVitt also points out Q3 hotel shopper growth was a solid 30% Y/Y, forecasts a 17% CAGR for the company over the next 4 years, and thinks the steep price paid by Priceline for Kayak demonstrates TripAdvisor's value.
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