UPDATE: Cantor Fitzgerald Initiates Expedia at Buy on Growth Tailwinds

Cantor Fitzgerald initiated its coverage on Expedia EXPE with a Buy rating and a price target of $64. Cantor Fitzgerald commented, "We initiate on Expedia with a BUY. We believe that Expedia is still in the early stages of a business turnaround, and prospects for continued upside driven by sustained improvement in key metrics and margins make this an attractive stock to own. At $54.81, the stock is relatively inexpensive, trading at ~9.3x CY:12E EBITDA and offering potential ~15% upside to our $64 PT." Expedia closed at $57.09 on Thursday.