Expedia, Inc. (EXPE) - Bull Of The Day

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Expedia, Inc. (EXPE) - Bull Of The Day

By Zacks Investment Research on August 21, 2009 | More Posts By Zacks Investment Research | Author's Website

Expedia Inc. (EXPE) is one of the leading online travel companies in the world. The company reported strong results in the last quarter, beating the consensus estimate. Although bookings continue to be impacted by the recession, management has taken promotional measures to improve the conversion rate.

We are also positive about international initiatives, which we think will be the key to future growth. Cost management, a favorable online advertising environment and solid financials are other encouraging factors. In comparison, the possibility of increased occupancy taxes and low growth in Egencia (the smallest segment) seem less significant.

However, the declining average daily rates could be something to watch. We are initiating coverage of EXPE shares with an OUTPERFORM rating.

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