Shares of Expedia Inc. ran up 1.5% Monday, bucking the losses seen in rival online travel company stocks and the broader stock market, after Macquarie Securities turned bullish, citing accelerating hotel room night growth. Analyst Tom White raised his rating to outperform, after being at neutral for at least 2 1/2 years. He boosted his stock price target to $144, which is 18% above current levels, from $123. White said the hotel room night growth, tempered expectations for its HomeAway business and the stock’s relative weakness since it reported quarterly results on Feb. 10, “provide the attractive entry point we’ve been waiting for to get more constructive on shares.” The stock had lost 2.1% from Feb. 10 through Friday, compared with a 2.9% rally in the S&P 500 . Meanwhile, shares of rivals Travelzoo Inc. shed 1.1% in morning trade Monday, of Priceline Group Inc. gave up 0.2% and of Sabre Corp. lost 1%, while the S&P 500 slid 0.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News