UPDATE - Barclays Downgraded Expedia (EXPE) to Underweight; Three Reasons To Keep It Moving

UPDATE - Barclays downgraded Expedia (NASDAQ: EXPE) to Underweight, maintains price target of $34.00.

Analyst, Anthony DiClemente, said, "On the heels of a 31% rise in EXPE since 1Q12 earnings (vs SPX -0.1%), we are downgrading to 3-Underweight. While we came out of 1Q12 incrementally positive and maintain our $34 price target, we would avoid EXPE at present based on: 1) Pricing - overly optimistic on new platform; 2) Buybacks - 20M share program looks too aggressive considering cash on hand; and 3) Valuation - trading at 8x 2012 guided EBITDA with FX headwinds coming in Q2."

To see more ratings on EXPE, Click Here

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• SAP Q1 results fall short of Wall Street estimates as transformation kicks off
• Apple’s iPhone sales plummeted 19% in March quarter, per Counterpoint data
• Tesla, GM earnings, US futures, EV sales - what's moving markets