UPDATE: Ascendiant Capital Initiates Coverage on Orbitz Worldwide with Buy Rating, $10 PT on Multiple Positive Trends

In a report published Wednesday, Ascendiant Capital analyst Edward Woo initiated coverage on

with a Buy rating and $10.00 price target. In the report, Ascendiant Capital noted, “We believe that the company's position as one of the world's leading OTAs will continue to benefit from an improving travel industry, the increasing trend towards online travel, high growth potential in international markets, and positive momentum from its ebookers European hotel business. We expect Orbitz's share price to increase over the near term as it delivers more consistent revenue and earnings growth.” Orbitz Worldwide closed on Tuesday at $7.54.