Viad "buy," target price raised

04/15/08 - Davenport & Co.

NEW YORK, April 15 (newratings.com) - Analysts at Davenport & Company maintain their "buy" rating on Viad Corp (VVI). The target price has been raised from $40 to $47.

In a research note dated April 11 and published yesterday, the analysts mention that the economic slowdown is unlikely to have a major impact on the company’s largest segment, GES. There is high visibility into GES’ business and the segment is expected to benefit going forward from the international exposure, the analysts say. Viad’s travel and recreation segment is also likely to be only minimally impacted by the weakening economy, Davenport & Company adds.