Zacks Investment Research upgraded shares of Expedia Inc (EXPE) from NEUTRAL to OUTPERFORM on April 22, 2014, with a target price of $87.00.
Expedia, Inc., one of the leading online travel companies in the world, exceeded our fourth quarter estimates. Results were helped by a stronger travel market all over the world, contribution from the VIA and Trivago acquisitions, as well as the strategic expansion in Asia. We continue to believe in management's growth strategy across markets although we recognize that lower ADRs in emerging markets and increasing competition remain concerns. We believe the company's current growth prospects justify a higher multiple and we are therefore upgrading EXPE shares to Outperform.
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