Cantor Fitzgerald Starts Expedia (EXPE) at Buy, Early States of Turnaround

September 21, 2012 8:52 AM EDT
Get Alerts EXPE Hot Sheet
Price: $118.53 -0.68%

Rating Summary:
    28 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Cantor Fitzgerald initiates coverage on Expedia (NASDAQ: EXPE) with a Buy. PT $64.00.

The firm comments, "We believe that Expedia is still in the early stages of a business turnaround, and prospects for continued upside driven by sustained improvement in key metrics and margins make this an attractive stock to own. At $54.81, the stock is relatively inexpensive, trading at ~9.3x CY:12E EBITDA and offering potential ~15% upside to our $64 PT."

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 $57.09 yesterday.

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