Jefferies Reports On Expedia Split With TripAdvisor

Jefferies has issued a report that Expedia EXPE will split into two publicly traded companies: Expedia, Inc. and TripAdvisor, Inc. According to Jefferies, “Expedia announced preliminary plans to spin-off its TripAdvisor business, the leading online travel community site that's fast growing with high margins. Our SOP analysis shows the move should unlock at least $6/share of value as TripAdvisor gets re-valued more like an ad-driven content model than a travel e-commerce business.” EXPE has a Buy Rating and a $31 Price Target. EXPE closed at $22.40 yesterday.