Jefferies Maintains Buy on Expedia

Jefferies is out with its report today on Expedia EXPE, maintaining Buy. In a note to clients, Jefferies writes, "We expect 2Q results to come in-line or slightly ahead of Street expectations, driven primarily by healthy double-digit growth in Hotel and TripAdvisor. We continue to view TripAdvisor's spin-off as a near-term catalyst and are maintaining our Buy/$31 PT." At the time of posting, shares of HON were trading pre-market at $28.01, down 6.79% from Friday's close.