Piper Jaffray Reports on Orbitz Worldwide

Piper Jaffray commented on Orbitz Worldwide OWW in a report released today. In the report, Piper Jaffray was negative in its assessment of the company. Piper Jaffray writes, "Orbitz received a favorable ruling in the Travelport request for injunctive relief against American Airlines, ensuring the return of AA inventory on Orbitz sites. While this is clearly positive for Orbitz, we do not believe it changes the broader story and the longer term challenges the company faces in diversifying away from air (into hotel) and domestic (into international)." Piper Jaffray currently has an Underweight rating on Orbitz Worldwide and a price target of $2.25. Shares of OWW closed at $2.21 on Wednesday, down 3.91% from the open.