Cantor Fitzgerald Raises Price Target on Expedia (EXPE) Following DOJ's Approval of Orbitz Acquisition

Cantor Fitzgerald reiterated a Buy rating on Expedia (NASDAQ: EXPE), and raised the price target to $140.00 (from $130.00), following DOJ approval for pending acquisition of Orbitz.

Analyst Naved Khan commented, "We're reiterating our BUY rating and raising our estimates and PT on EXPE following DOJ's approval yesterday for the pending acquisition of Orbitz. We view the deal positively for EXPE given the potential cost synergies (which we believe can result in a meaningful accretion to EBITDA/EPS) as well as the strategic rationale from the transaction and are adjusting our estimates and PT for EXPE to reflect the transaction, which we expect will close in 4Q:15."

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 $124.68 yesterday.

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