Jefferies initiates coverage on Expedia EXPE with a Buy rating and a $36 price target.
In its report to investors, Jefferies writes, "Our Buy rating on Expedia reflects a) a robust distribution platform, which leverages strong brand portfolio and the largest audience WW, b) sizable growth opportunities across different product categories/geographies and c) robust FCF (at $500M+/yr) and attractive valuation at 7x FY11 EBITDA."
EXPE closed yesterday at $26.33.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryExpediaInternet RetailJefferies
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