Expedia (EXPE) PT Raised to $178 at Cantor Fitzgerald

Cantor Fitzgerald raised its price target on Expedia (NASDAQ: EXPE) to $178.00 (from $175.00) while maintaining a Overweight rating.

Analyst Naved Khan comments "Our constructive bias on Expedia reflects 1) expectations for sustained improvement in room nights growth for the rest of 2017, benefiting from easier comps; 2) potential for tailwinds from further improvement in conversion rates; 3) stabilizing revenue/room-nights; 4) continued progress in HomeAway's transition to a transaction-driven model; and 5) potential for upside (over the medium/long term) from cross-selling HomeAway inventory on core OTA."

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