Cantor Fitzgerald Reiterates Overweight Rating and $175 PT on Expedia (EXPE); Checks In-Line, Travel Ban Impact 'Limited'

Cantor Fitzgerald analyst Naved Khan reiterates Overweight rating and $175 price target Expedia (NASDAQ: EXPE), suggesting first quarter is trending in-line with expectations, while noting limited impact from the Travel Ban.

Khan comments, "We maintain our OW rating/$175 PT following positive intra-quarter checks. Our checks show that, as of mid-March, global search interest growth in brands Expedia and Hotels.com is tracking in line with our expectations, with a slight sequential deceleration likely due to the Easter shift into April. Overall, we believe that the company has held onto gains in conversions it has obtained over the past 6-8 months. Our checks and third-party data also indicate that hotel room rates (ADRs) and demand had steady growth in the U.S. in Jan./Feb. and that European Hotel demand strengthened over this period. If these trends are sustained, we'd view that positively for 1Q performance.'

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 $127.60 yesterday.

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