UPDATE: Ascendiant Capital Markets Initiates Expedia at Buy on Global Growth in Travel

Ascendiant Capital Markets initiated coverage on Expedia

with a Buy rating and a $77.00 price target. Ascendiant commented, "We believe that the company's leading position as the world's largest OTA will continue to benefit from an improving travel industry, the increasing trend towards online travel, and high growth potential in international markets. We expect Expedia's share price to increase over the near term as it continues to experience solid revenue and earnings growth." Expedia closed at $61.99 on Wednesday.