Expedia (EXPE) PT Lifted to $160 at Cowen Following Strong Q3

Cowen analyst Kevin Kopelman reiterated an Outperform rating and boosted his price target on Expedia (NASDAQ: EXPE) to $160.00 (from $150.00) following strong results after the close with room nights up 28%.

Kopelman commented, "Q3 room nights were +28% y/y organic, same as Q2 growth, as hotel supply, repeat customers, conversion, & ad spend drove growth. EBITDA was +17% ex-Orbitz & now expected at +15% for FY15, vs. 10-15% previously. Management surprised by announcing 'meaningful upside' to original Orbitz exp. synergies of $75M, phased in throughout FY16. Raising price target from $150 to $160 on higher profitability."

For an analyst ratings summary and ratings history on Expedia click here. For more ratings news on Expedia click here.

Shares of Expedia closed at $127.06 yesterday.

You May Also Be Interested In

• Incyte (INCY) PT Raised to $105 at Truist Securities
• Taysha Gene Therapies (TSHA) PT Raised to $10 at BofA Securities
• TD Cowen: 'Infineon Technologies AG (IFX:GR) (IFNNY) is a Top Pick'