Jefferies Starts Expedia (EXPE) at Buy, Sees 37% Upside

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Jefferies initiates coverage on Expedia (NASDAQ: EXPE) with a Buy rating and $36 price target, representing 37 percent upside.

The firm cited, "a) a robust distribution platform, which leverages strong
brand portfolio and the largest audience WW, b) sizable growth opportunities across different product categories/geographies and c) robust FCF (at $500M+/yr) and attractive valuation at 7x FY11 EBITDA."

For more ratings news on Expedia click here and for the rating history of Expedia click here.

Shares of Expedia closed at $26.33 yesterday, with a 52 week range of $18.30-$29.85.

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