UPDATE: Jefferies Raises PT on Orbitz Worldwide Following Overhangs Resolution
In a report published Monday, Jefferies analyst Brian Fitzgerald reiterated a Hold rating on Orbitz Worldwide (NYSE: OWW), and raised the price target from $3.00 to $6.00.
In the report, Fitzgerald noted, “Now that Orbitz has finally put behind its litigation with American Airlines and business seems to be improving at HotelClub, we are taking another look at the company and updating our model. A rebound in hotels and a stabilizing air segment signal a possible turnaround for Orbitz. However, we believe that any upside is already reflected in the stock.”
Orbitz Worldwide closed on Friday at $6.22.
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