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Expedia’s Target Raised at Citigroup after Meeting with Management (EXPE)

By Dividend.com,  June 07, 2011, 08:54:31 AM EDT

Online discount travel company Expedia, Inc. ( EXPE ) on Tuesday saw its price target boosted by analysts at Citigroup.

The firm said it raised its price target on EXPE from $29 to $33. That new target suggests a 23% upside to the stock's Monday closing price of $26.93.

Citigroup also maintained its "Buy" rating following recent ositive meetings with company management. The analyst noted that EXPE remains top large-cap value play at current levels.

Expedia shares rose 81 cents, or +3%, in premarket trading Tuesday.

The Bottom Line
Shares of Expedia ( EXPE ) have a 1.04% dividend yield, based on last night's closing stock price of $26.93. The stock has technical support in the $22-$24 price area. If the shares can firm up, we see overhead resistance around the $28-$30 price levels.

Expedia, Inc. ( EXPE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: EXPE



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