Hoak Breedlove Boosts Travelocity to 'Strong Buy'

Analyst Dennis Telzrow says the online travel agent is a market leader and is still benefiting from the jump to Web bookings

Hoak Breedlove upgraded Travelocity.com (TVLY ) to strong buy from buy.

Analyst Dennis Telzrow says there's no fundamental reason for the recent sell-off in the stock. He expects Q2 results (due in July) to be on target with expectations. He says Travelocity is a leader in the industry, and continues to benefit from movement to on-line Web travel.

Telzrow has a $30 target, with shares trading at 35 times to 40 times his $0.65 2002 EPS estimate.

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