Expedia (EXPE) Back in Top Position on Tripadvisor (TRIP), Says Deutsche Bank (PCLN)

August 6, 2013 10:00 AM EDT
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Price: $118.81 --0%

Rating Summary:
    27 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Checks by Deutsche Bank show Expedia (NASDAQ: EXPE) has moved back into top position on Tripadvisor (Nasdaq: TRIP) following a 'drubbing' from Priceline's (Nasdaq: PCLN) Booking.com throughout Q2.

"We recommend adding to positions of EXPE at current levels, as the Tripadvisor execution blunder appears to have been remedied according to our data," said analyst Ross Sandler.

"Our data shows Booking.com taking share throughout 2Q from Expedia, and Hotels.com dropping off significantly. More importantly, Expedia appears to be back in the top position on Tripadvisor as of early July, so should see the channel bounce back to previous cadence in 3Q. This is critical to the near-term financial performance at EXPE and should give investors some comfort that the issue is not structural," he added.

Deutsche Bank Buy Expedia price target of $66.00

For an analyst ratings summary and ratings history on Expedia (NASDAQ: EXPE) click here. For more ratings news on Expedia click here.

Shares of Expedia closed at $49.69 yesterday.

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