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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsBarton CrockettFBR Capital Markets
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!