Bellevue Washington based online travel giant Expedia (EXPE) got a bullish upgrade from Deutsche Bank as the bank raised the stock from Hold to Buy.
The commentary surrounding the upgrade suggested;
1)Expedia currently trades less expensively than competitor PricelinePCLN
2) EPS estimates may be 15% too low and
3) Ross Sandler noted, “The company is in the middle of a major acceleration from improving conversion rates as a result of its recent website and platform upgrade,”.
With a new $68 price target accompanying the upgrade Deutsche Bank implies 19.1% upside from Expedia’s $57.09 close yesterday.
Shares are already up nearly 97% YTD.
The Bottom Line
Shares of Expedia (EXPE) have a .91% dividend yield, based on last night’s closing stock price of $57.09. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $60-$63 price levels.
Expedia (EXPE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.