UPDATE: Benchmark Raises PT on Travelzoo to $124

Benchmark is out with its report today on Travelzoo TZOO, raising its PT from $123 to $124. In a note to clients, Benchmark writes, "Travelzoo trades at 34x our 2011E EPS of $1.72 and 21x our 2012E EPS of $2.78. Travelzoo stands well-positioned to benefit from the global recovery in travel advertising and building consumer interest in Local Deals. Using a PEG of 1.4x, or 72x 2011E EPS of $1.72, our price target is $124 per share. We rate TZOO Buy." At the time of posting, shares of TZOO were trading pre-market at $61.50, up 3.59% from Tuesday's close.