Pacific Crest Starts Expedia (EXPE) at Sector Weight

Pacific Crest initiated coverage on Expedia (NASDAQ: EXPE) with a Sector Weight rating. Analyst Brad Erickson thinks investors should wait for a better entry point.

"While we like Expedia's strong franchise, exposure to secular tailwinds and continued online travel share gains, the near to medium term presents little opportunity for multiple expansion, in our view, given likely messy acquisition integrations, deceleration in key metrics and 1H EBITDA expectations appearing overly ambitious. We'd wait for a better entry point," said the analsyt.

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 $107.80 yesterday.

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