Jefferies Maintains Buy on Expedia (EXPE)

Jefferies is out with its report on Expedia EXPE maintaining Buy on EXPE. In a note to clients, Jefferies writes, "Latest data shows that fundamentals for online travel continued to improve in 4Q, which bodes well for Expedia's quarterly results as well as FY11 performance. We believe that 4Q is likely to come in-line/slightly ahead of expectations and are maintaining our Buy/$36PT on the stock. Online travel spending in the US grew 9.9% Y/Y in 4Q, up 140bps from 8.5% in 3Q according to comScore data released yesterday." EXPE is trading at $26.27, down 0.08% from yesterday's close.