Shares of Liberty Ventures up 9+%, FBR Suggests Stock Offers Exposure to Expedia Discount

Shares of Liberty Ventures LVNTA have traded as high as $126.70, up 9.215% on Friday. This is the largest intraday high since October 10. FBR Capital Markets analyst Barton Crockett published a note earlier commenting on Liberty's 18% economic interest in Expedia Inc. EXPE. Crockett reported that Liberty is likely to eliminate the Expedia discount with a tax-free exit at some point. In addition, FBR considers a scenario where Venture spins off the Expedia stake tax-free in the same way as its plans with TripAdvisor Inc. TRIP. The analyst commented that Liberty “effectively offers exposure to Expedia at a one-third discount and an opportunity to gain incremental value for a controlling interest in TripAdvisor.” FBR maintains an Outperform rating on Liberty and lowered the price target from $148.00 to $140.00. Liberty Ventures closed at $116.01 on Thursday. Shares of Liberty have traded as high as $126.70, up 9.215% on Friday.