Expedia Upgraded to “Overweight” at Piper Jaffray (EXPE)

Online travel agency Expedia, Inc. (EXPE) on Monday caught a big upgrade from analysts at Piper Jaffray.

The firm said it boosted its rating on EXPE to “Overweight” but maintained its $33 price target. That target suggests a 21% upside to the stock’s Friday closing price of $27.17.

A Piper Jaffray analyst commented, “We are maintaining our $33 price target and estimates, however we are upgrading shares to Overweight. We are maintaining our EPS multiple of 15x our 2012 PF EPS estimate of $2.17.”

Expedia shares were unchanged in premarket trading Monday.

The Bottom Line
Shares of Expedia (EXPE) have a 1.87% dividend yield, based on Friday’s closing stock price of $27.17. The stock has technical support in the $23-$24 price area. If the shares can firm up, we see overhead resistance around the $30 price level.

Expedia, Inc. (EXPE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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