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.
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