UPDATE: Ascendiant Raises PT on Travelzoo on Optimistic Management View

In a report published on Tuesday, Ascendiant analyst Edward Woo raised the price target on Travelzoo TZOO from $26.00 to $32.00 and reiterated a Neutral rating.

In the report, Ascendiant noted, "The strength in its core travel product bodes well for steady improvement in 2013. As core travel remains Travelzoo's largest and most profitable business (63% of Q1's total revenue), strength in this business will drive its results. The improvement in subscriber growth (Q1 growth of 400,000 was much better than the growth of 100,000 in Q4) will also likely help revenue growth as well."

Travelzoo closed at $28.72 on Monday.