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Expedia Downgraded to Hold by Deutsche

Expedia Inc (NASDAQ:EXPE) is getting crunched this morning on a downgraded from Deutsche Bank. The bank downgraded the stock from buy to hold with a price target of $51.00. The price target is a decrease of $15. Deutsche doesn’t believe that Expedia is performing well under heavy competition from the U.S. market. In addition, they are concerns about the recent management shakeups at its subsidiary Hotels.com. Expedia is currently down 7 percent.