UPDATE: Deutsche Bank Raises PT to $38 on HomeAway on Guidance Raise
Deutsche Bank maintained HomeAway (NASDAQ: AWAY) with a Buy rating and raised the price target from $30.00 to $38.00.
Deutsche Bank said, "HomeAway posted its first clean revenue beat-and-raise quarter in a long time, as the shift of VRBO and three European sites to the new platform drives accelerating revenue and bookings. ARPL growth ex-FX and ex-PPL listings accelerated for the fourth quarter in a row (to +11.0% y/y), and grew much faster on a headline basis at +8.7%."
HomeAway closed at $25.04 on Wednesday.
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