Follow up to Expedia - Two Upgrades to BUY

Goldman Sachs and Piper Jaffrey have upgraded Expedia (EXPE) to Buy with price targets in the low $30s. In one post, Flying High with Expedia and another, Memo to Karl Icahn, Talk to Expedia Management, I shinned the spotlight on Expedia arguing that it is undervalued, but no one was listening. Now the major brokerages are seeing the upside potential in the stock. However, I believe that their price targets are way to low and Expedia's shares are valued in the high $30s.