Jefferies Reiterates Buy on Expedia (EXPE)

Jefferies is out with its report today on Expedia EXPE, reiterating Buy. In a note to clients, Jefferies writes, "We're reiterating our Buy/$31 PT on EXPE, which presented at the Jefferies TIMT Conf. yesterday. Our Buy rating reflects a) a positive read on the business midway through 2Q based on mgt's upbeat commentary/tone, b) an improving core transactions business and c) the spin-off of TripAdvisor, which can potentially unlock up $6-7 in incremental value." Shares of EXPE closed Thursday at $25.12, up 0.16% from Wednesday's close.