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Fly News Breaks for March 17, 2016
EXPE
Mar 17, 2016 | 05:55 EDT
Piper Jaffray analyst Michael Olson attributes yesterday's intraday selloff in shares of Expedia to the stock rising 13% in the week preceding the analyst meeting and some investors hoping for an upward revision to management's acquisition accretion guidance. Olson views the guidance issued yesterday as largely in-line with expectations. The analyst has "continued confidence" that Expedia's core business will remain stable and that the EBITDA accretion from Orbitz and HomeAway will exceed expectations. He reiterates an Overweight rating on the shares with a $140 price target.
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