Jefferies Maintains Hold on Orbitz Worldwide

Jefferies is out with its report today on Orbitz Worldwide OWW, maintaining Hold. In a note to clients, Jefferies writes, "The development should help improve the sentiment on OWW stock (down 60% YTD) and be a modest positive financially. Our Hold rating reflects: a) lower air transaction volume due to rising ticket prices, b) signs of increased competition internationally, and c) ongoing dispute with Kayak and risks from Google's ITA acquisition." Jefferies maintains a $3.50 PT on OWW. Shares of OWW closed Wednesday at $2.21, down 3.91% from Tuesday's close.