UPDATE: JG Capital Initiates Coverage on Expedia with Overweight Rating, $75 PT

In a report published Wednesday, JG Capital initiated coverage on Expedia

with an Overweight rating and $75.00 price target. JG Capital noted, “We believe Expedia is one of the best online internet travel players, driven by its scale as the world's largest online travel agent (OTA) based on gross bookings, its well-known brands and portfolio of websites, strong and accelerating hotel room night growth, high mix of organic traffic, and portability to mobile. Continued solid execution, strong organic tailwinds and an aggressive expansion strategy have allowed the company to gain market share and record accelerating results despite the challenging macro environment. There are also rooms for margin improvement and a favorable mix shift in revenue towards higher-margin segments.” Expedia closed on Tuesday at $59.92.