Expedia (EXPE) Bullish Stance, $100 Price Target Reiterated at FBR Capital

FBR Capital analyst Jake Fuller reiterated an Outperform rating and $100 price target on Expedia (NASDAQ: EXPE) following strong results after the close.

Fuller commented, "Expedia, Inc. (EXPE) reported another in a string of strong quarters, but enthusiasm may be tempered somewhat by a step-down in the 4Q guidance. The key themes: (1) bookings beat with in-line room nights, (2) EBITDA margin again topped consensus, and (3) 4Q guidance was down on currency and Trivago/eLong investments."

Commenting on the 'big picture' the analyst said, "Expedia continues to execute very well but is clearly taking the opportunity to reinvest upside. That may weigh on 4Q but should be a longer-term plus. Although we did not see anything in the quarter that really advanced the bull case, there were no issues evident either, and we continue to look toward ramping hotel count and margin expansion as the next big legs to the story."

For an analyst ratings summary and ratings history on Expedia click here. For more ratings news on Expedia click here.

Shares of Expedia closed at $80.73 yesterday.

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