UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Expedia
In a report published Monday, Cantor Fitzgerald reiterated its Buy Rating on Expedia (NASDAQ: EXPE), and raised its price target from $67.00 to $70.00.
Cantor Fitzgerald noted, “We're reiterating our BUY on Expedia and raising our PT to $70 (from $67) as our checks show robust growth in paid clicks for Expedia.com in Oct./Nov., indicating that the site continues to see improved traffic conversion and ROI. With hotel trends relatively unchanged (Q/Q) across the U.S. and Europe and a limited hit from Hurricane Sandy, we believe this should translate into healthy double-digit growth in hotel room-nights and revenue in 4Q.”
Expedia closed on Friday at $58.99.
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