May 23, 2012 at 08:40 AM EDT
Expedia’s Target Raised at Piper Jaffray (EXPE)

Online travel booking agency Expedia Inc (EXPE) on Wednesday caught some continued bullish commentary from analysts at Piper Jaffray.

The firm maintained its “Overweight” rating on EXPE and lifted its price target from $44 to $53. That new target suggests a 24% upside to the stock’s Tuesday closing price of $42.71.

Expedia shares, which have climbed more than 47% year-to-date, were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Expedia (EXPE) have a .66% dividend yield, based on last night’s closing stock price of $42.71. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $48-$50 price levels.

Expedia Inc (EXPE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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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