Expedia Downgraded to “Neutral” at Piper Jaffray; Valuation Call Following Huge Run-Up (EXPE)

Online travel agency Expedia Inc. (EXPE) on Tuesday caught some bearish commentary from analysts at Piper Jaffray.

The firm said it cut its rating on EXPE from “Overweight” to “Neutral.” Piper Jaffray noted the move was a valuation call, based on its $53 price target (Expedia closed at $49.96 on Monday).

Expedia shares, which have surged more than 72% year-to-date, fell 97 cents, or -1.9%, in premarket trading Tuesday.

The Bottom Line
Shares of Expedia (EXPE) have a .56% dividend yield, based on last night’s closing stock price of $49.96. The stock has technical support in the $45 price area. If the shares can firm up, we see overhead resistance around the $55-$60 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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