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Bank of America Merrill Lynch Reiterates Neutral Rating, $62 PT on Expedia

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In a report published Monday, Bank of America Merrill Lynch reiterated its Neutral rating and $62.00 price target on Expedia (NASDAQ: EXPE).

BofA Merrill Lynch noted, “Expedia is an investment in global Online travel with exposure to hotel, air and rental car bookings in the US, Europe and Asia. With 3 strong transaction brands including Expedia, Hotels.com and Hotwire, and its additional exposure to Asia through ownership in eLong and a joint venture with Air Asia, Expedia should benefit from an increasing percentage of travel bookings migrating Online. We expect 8-10% growth in normal travel markets, and we see a 10-16x P/E multiple as reasonable.”

Expedia closed on Friday at $59.59.

Latest Ratings for EXPE

DateFirmActionFromTo
Jan 2017MKM PartnersInitiates Coverage OnBuy
Jan 2017MKM PartnersInitiates Coverage OnBuy
Jan 2017CitigroupInitiates Coverage OnSell

View More Analyst Ratings for EXPE
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

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