UPDATE: Deutsche Bank Reiterates on HomeAway on Increased Revenue/EBITDA Estimates

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In a report published Friday, Deutsche Bank analyst Lloyd Walmsley reiterated a Buy rating on
HomeAwayAWAY
, and raised the price target from $42.00 to $43.00. In the report, Deutsche Bank noted, “Reiterate Buy rating with $43 target (from $42). We increase our revenue and EBITDA estimates primarily reflecting the Stayz acquisition but also include less sales and marketing deleverage in 2014. As a result, our target increases to $43 per share (from $42 previously). We continue to view HomeAway as well positioned to benefit from increasing visibility into the PPB model. While analyst estimates vary for the PPB contribution in 2014, we believe investors will be more focused on performance improvement of the PPB listings throughout 2014 as an eye to what to expect in 2015 and beyond rather than the immediate contribution next year to revenue. Maintain Buy.” HomeAway closed on Thursday at $37.43.
Posted In: Analyst ColorPrice TargetAnalyst RatingsDeutsche BankLloyd Walmsley
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