Analysts at Stifel Resume Coverage Of Expedia With A Hold Rating

On Tuesday,

of Stifel resumed coverage of

with a Hold rating and $88 price target. According to Devitt, Expedia's organic growth rate is still unclear. The analyst adds that a “significant portion” of its 29 percent growth in the second quarter originates from its multiple acquisitions and partnerships. “We remain on the sidelines until we see more consistent growth trends in key metrics as the company continues its international expansion strategy,” Devitt wrote. Looking forward, Devitt believes Expedia's strategic acquisitions should help support “moderate” growth in the near term. The analyst projects bookings will grow at a 17 percent compounded annual growth rate from 2013 through 2016 to $62.6 billion while revenues will grow at a 12 percent compounded annual growth rate to $6.8 billion through 2016.