UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Orbitz Worldwide Following Overhangs Resolution

In a report published Monday, Jefferies analyst Brian Fitzgerald reiterated a Hold rating on Orbitz Worldwide 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. We reiterate our Hold and raise PT to $6.” Orbitz Worldwide closed on Friday at $6.22.