Nomura Securities Maintains a 'Neutral' on Orbitz Worldwide (OWW); Q1 Preview - Cutting Numbers Ahead of Results

May 2, 2012 9:35 AM EDT Send to a Friend
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Price: $8.20 +3.40%

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    4 Buy, 16 Hold, 2 Sell

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    Up: 3 | Down: 4 | New: 7
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Nomura Securities maintains a 'Neutral' on Orbitz Worldwide Inc. (NYSE: OWW) price target lowered from $3.25 to $3.00.

Analyst, Brian Nowak, said, "OWW will report 1Q:12 earnings before the open on Thursday. We expect 1Q:12 revenue of $186mn and adjusted EBITDA of $19mn, within the company’s guidance for EBITDA from $17-$20mn. We are $1mn above the current consensus EBITDA. Expedia’s recent strong results, in our view, are a further sign that competition has stepped up, and we are reducing our 2012 OWW domestic non-air bookings growth estimate from 7% to 4%, and our PT. We continue to have our worries about OWW’s asset mix and competitive threats."

For an analyst ratings summary and ratings history on Orbitz Worldwide Inc. click here. For more ratings news on Orbitz Worldwide Inc. click here.

Shares of Orbitz Worldwide Inc. closed at $3.51 yesterday.




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