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CFRA lifts Expedia shares to 'strong buy'

CFRA analyst Tuna Amobi upgraded his rating on online travel giant Expedia Inc. to "strong buy" from "buy."

The CFRA analyst, who raised his price target on Expedia stock to $165 from $145, wrote in a June 7 note that CFRA remains "cautiously optimistic on the summer travel season, despite some clouds amid a renewed wave of terrorist attacks."

The analyst also noted "further traction" at Expedia's travel management company, Egencia, and trivago, which is majority-owned by Expedia.