Cantor Fitzgerald Remains Bullish on Expedia (EXPE) Following Industry Checks

Cantor Fitzgerald reiterates a Buy rating and $120.00 price target on Expedia (NASDAQ: EXPE) following industry checks. Analyst Naved Khan says that Europe shows that euro-denominated hotel room prices rose ~16% Y/Y in 2Q vs. ~7% in 1Q:15 and ~4% in 4Q:14. U.S. paid click data shows click volume to Expedia.com sites (~50% of total revenues) up 18% Y/Y in April-May.

Khan commented, "Our checks show that hotel room rates across both the U.S. and Europe have continued to improve Y/Y in 2Q, while paid-clicks and mobile visitation for Expedia.com, Hotels.com and Trivago also saw good growth during April and May. While 2Q tends to be back-end weighted, if sustained, we would view these trends positively for 2Q performance. We maintain our BUY rating and $120 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 $108.98 yesterday.

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