Nomura Securities Maintains a 'Neutral' on Expedia (EXPE); Q3 Review

Nomura Securities maintains a 'Neutral' on Expedia (NASDAQ: EXPE) price target of $29.00.

Nomura analyst, Brian Nowak, said, " ‘11 guidance cut to mid-single digit growth. Expedia cut its FY’11 OIBA guidance from “mid-to-high single” digit to “mid-single” digit growth. We are reducing our 2011 OIBA growth estimate to 5.5% (vs 8% previously). Hotels.com continues growing in Europe, but we are reducing our 4Q:11 int’l room night growth from 34% to 25% to better reflect their current growth rates. The TripAdvisor spin-off remains on schedule for the “latter” part of 4Q:11. We are lowering our 2012 revenue estimate by 2% to $4.445b. We are reducing our EPS estimate by 4% to $2.26."

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

Shares of Expedia closed at $29.09 yesterday.

---

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

---

You May Also Be Interested In

• Expedia (EXPE) PT Raised to $351 at UBS
• McGraw Hill (MH) PT Raised to $15 at UBS
• Expedia (EXPE) PT Raised to $330 at RBC Capital on 'Strong Execution'