Expedia (EXPE) PT Lifted to $135 at Cowen Post Q2; Organic Room Nights Up To +28%

Cowen analyst Kevin Kopelman reiterated an Outperform rating and boosted his price target on Expedia (NASDAQ: EXPE) to $135.00 (from $130.00) following Q2 results. The analyst highlighted that organic room nights growth was 28%.

commented, "Room nights accelerated slightly to +28% organic in Q2, vs. +27% in Q4, as hotel supply, repeat customers, conversion, & ad spend drove growth. Margins were down 40 bps, with improvement at Trivago & Egencia partially offsetting modest compression at Core OTA & corp. overhead. FY EBITDA guide of +10-15% ex-eLong was reiterated. We are raising PT to $135 from $130 on faster growth trajectory."

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 $107.61 yesterday.

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