According to Morgan Keegan, Expedia EXPE is downgraded to Market Perform.
Morgan Keegan reported that a separation offers the potential to realize more value from TripAdvisor but risks affecting the OTA business' revenue margins and competitiveness. “With shares indicated at ~$26 in the after market, we maintain our $26 PT and are downgrading to Market Perform.”
Expedia closed yesterday at $22.40.
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Posted In: Analyst ColorDowngradesAnalyst RatingsConsumer DiscretionaryExpediaInternet RetailMorgan Keegan
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