(EXPE) Expedia Incorporated – Bull of the Day

Expedia, Inc. (EXPE), one of the leading online travel companies in the world, solidly beat the Zacks Consensus Estimate in the second quarter, despite higher expenses. A stronger economy, increased travel spending by both individuals and corporations and international expansion are driving results.

Additionally, Egencia is turning around, posting strong results in the last quarter. The solid growth strategy across markets and stronger business fundamentals overall are the reasons for our Outperform recommendation.

The shares also appear cheap since they are trading at a forward P/E of 16.5X compared to a 52.2X multiple for the peer group. Our $36.00 target price, 20.0X 2011 EPS, reflects our favorable view.

EXPEDIA INC (EXPE): Free Stock Analysis Report

Zacks Investment Research

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