Cowen & Co. analyst Kevin Kopelman noted that Expedia stood out in Q1 with 6% acceleration in room nights and EBITDA margins, excluding its stake in China online travel agency eLong, up 80 basis points year over year, "as Expedia benefitted from scale, strong marketing, hotel supply investments and success at Trivago," the German metasearch company that Expedia acquired in 2012. "Priceline grew in line, but shares remain under-appreciated largely due to foreign exchange (pressures)," he said. For TripAdvisor, Kopelman said, "we see less upside on estimates risk and concerns over ad spend, but remain bullish on long-term fundamentals." Get the full story at Investor's Business Daily