Expedia (EXPE) Higher as Piper Jaffray Boosts Target on 'Accelerating' European Data

Expedia (Nasdaq: EXPE) shares are on the move Wednesday following some positive comments and price target boost at Piper Jaffray.

Analyst Michael Olson said recent comScore data suggests a strong acceleration in Europe for Expedia. Unique visitors popped from a 7 percent year-over-year gain in March up to a 32 percent improvement.

Major markets Expedia has seen an increase in include Germany, U.K., France, and Spain.

In addition, Olson noted that Expedia's overhaul is beginning to bear fruit.

Piper Jaffray currently rates Expedia at Overweight, with the firm boosting its price target from $44 to $53.

Shares of Expedia are up about 6 percent on the session.

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 $42.71 yesterday.

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