Shares Of Expedia Lower As FBR Warns Q4 U.S. Bookings Consensus May Be Too High

Shares of Expedia Inc (NASDAQ: EXPE) were trading lower by 2 percent on Tuesday following cautious comments made by Jake Fuller of FBR & Co.

Expedia realized healthy trends through November, but December's tougher comp implies expectations for fourth quarter domestic growth in the high 20 percent range “could be a stretch,” according to Fuller. The analyst adds that December's comps includes the integration of Travelocity in 2013, which may lead to a deceleration in domestic unique hotel bookers and airline ticket volume.

Fuller states that he remains “comfortable” with a fourth quarter global bookings growth estimate of 23 percent.

Shares are Outperform rated with a $100 price target.