Deutsche Bank Maintains Buy on Kayak (KYAK), Bumps Price Target

Deutsche Bank maintained a Buy rating on Kayak Software (NASDAQ: KYAK) and raised their price target to $37.00 (from $35.00)

“We see a compelling opportunity for KAYAK to grow its top line via increased awareness, international expansion and better effective take-rates through driving more clicks its high-converting booking path,” said analyst Lloyd Walmsley, noting that the European opportunity was particularly compelling for KAYAK given better air economics from fragmented supply.

Overall, KAYAK stands to benefit from (1) strong product quality and growing brand awareness (2) improving economics on both desktop and mobile, (3) international expansion, and (4) a capital light model with high operating leverage, noted the analyst report.

For an analyst ratings summary and ratings history on Kayak Software click here. For more ratings news on Kayak Software click here.

Shares of Kayak Software closed at $32.77 yesterday.

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