UPDATE: Oppenheimer Initiates Coverage On Expedia

In a report released Tuesday, Oppenheimer analyst Manish Hemrajani initiated coverage on Expedia (NASDAQ: EXPE) with an Outperform rating and $90.00 price target.

Analyst at Oppenheimer lists six main reasons why Expedia will continue to grow: Expedia benefits from secular growth bringing consumers online for travel booking, diverse selection of branding and online travel property, increased penetration in its international segment, increased booking mix leading to higher margins for hotels, growth opportunities seen in its mobile platform and growing share in Trivago website.

Oppenheimer views opportunity for Expedia to expand in its international segment, particularly in Europe, Latin America and its Asian-Pacific demographic, through direct investments, alliances,and/or acquisitions.