In a report published by Citi, Expedia's EXPE rating is being upgraded to Buy.
Citi said that an almost 40% correction has created an excellent entry point/valuation level for Expedia, still one of the leading global online travel assets. “Trading at 11X 2011 P/E with a 12% FCF yield, EXPE also presents as the Best Value Play among Internet stocks.”
Expedia closed yesterday at $21.00.
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