Expedia's (NASDAQ:EXPE) Gross Booking Estimate Lowered by Deutsche (NYSE:DB)

Citing the ongoing AA dispute and Google (Nasdaq:GOOG) resisting the SEO strategy of TripAdvisor, Deutsche Bank (NYSE:DB) lowered their growth estimates for Expedia (NASDAQ:EXPE).

Deutsche says, "Given the likely impact from the AA dispute and Google dampening TripAdvisor’s SEO efforts in the near-term, we are tweaking our estimates. For 2011, we are slightly lowering our gross bookings growth estimate to 11% (from 12% earlier) and are adjusting our revs/OIBA/EPS estimate to $3.64bn/$931mn/$1.97 vs. $3.68bn/$1.0bn/$2.08 previously. We are also introducing our 2012 estimates which call for revs/OIBA/EPS of $3.95bn/$1.02bn/$2.22 on gross bookings of $32.1bn (+10%Y/Y)."

Deutsche Bank maintains a "Buy" rating on Expedia, which closed Friday at $27.30, up $0.18, or 0.66 percent. Deutsche boosted their price target on Expedia from $32 to $35.