Expedia Shares Respond to PT Raise at UBS
Shares of Expedia Inc. (NASDAQ: EXPE) were up 6.79% following UBS analyst Eric Sheridan's $4 increase in his price target to $74.
Sheridan commented that Expedia has one of the best risk/ reward profiles in the U.S. internet sector. The analyst added that investors underappreciate triago's and eLong assets value. UBS sees potential over the next year for Expedia to increase shareholder returns.
FBR Capital Markets analyst Jake Fuller also had positive remarks on Expedia today. Fuller noted that Expedia's November data shows strong U.S. trends and points towards "healthy" fourth quarter bookings. FBR expects the company to meet or beat the predicted 11% booking growth in Q4.
Expedia closed at $62.73 on Friday.
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