Cantor Fitzgerald Bumps Price Target on Expedia (EXPE) to $70

Cantor Fitzgerald reiterated its Buy rating and raised its price target on Expedia (NASDAQ: EXPE) from $67 to $70.

The firm said checks show robust growth in paid clicks for Expedia.com in Oct./Nov., indicating that the site continues to see improved traffic conversion and ROI.

"With hotel trends relatively unchanged (Q/Q) across the U.S. and Europe and a limited hit from Hurricane Sandy, we believe this should translate into healthy double-digit growth in hotel room-nights and revenue in 4Q."

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 $58.99 yesterday.

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