Citi analyst Mark May upgraded Expedia (EXPE) to Buy from Neutral with a price target of $178. Owning "strong Internet franchises" during periods of positive growth inflection points is typically a good formula, May tells investors in a research note. He expects easing comparisons and business mix shift to accelerate the company's growth starting in Q2, and for the growth to be sustained in the mid-to-high-teens through 2018. The analyst also has more confidence in the long-term outlook for HomeAway and views Expedia's valuation as attractive relative to Priceline (PCLN).