In a report published Friday, Bank of America analyst Justin Post reiterated a Buy rating on Expedia EXPE, and raised the price target from $75.00 to $86.00.
In the report, Bank of America noted, “Expedia is an investment in global Online travel with exposure to hotel, air and rental car bookings in the US, Europe and Asia. With 3 strong transaction brands including Expedia, Hotels.com and Hotwire, and its additional exposure to Asia through ownership in eLong and a joint venture with Air Asia, Expedia should benefit from an increasing percentage of travel bookings migrating Online. We expect 8-10% growth in normal travel markets, and we see a 10-18x P/E multiple as reasonable.”
Expedia closed on Thursday at $65.14.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in