Expedia (NASDAQ:EXPE): Cantor believes that Expedia’s deal with Travelocity should be accretive starting next year. The firm thinks the deal will also provide Expedia with scale efficiencies from increased volumes; it keeps a $65 price target and Buy rating on Expedia.
PetroChina (NYSE:PTR): After PetroChina reported in-line 2013 first-half results that were boosted by divestment gains, Bernstein expects the company’s profits to rebound in the third quarter, driven by higher oil prices, improved gas pricing, and better refining margins. The firm keeps an Outperform rating on the shares.
Staples (NASDAQ:SPLS): Credit Suisse downgraded Staples to Neutral from Outperform to reflect worse-than-expected erosion in the core business. The price target has been lowered to $15.
VMware (NYSE:VMW): Jefferies has upgraded VMware to Buy from Hold, citing improving fundamentals and increased confidence in the company’s revenue acceleration. The firm raised its price target for shares to $105 from $86.