The firm said the revision was a valuation call due to slowing growth.
"We believe OWW could underperform as it faces tough comps from lapping the start of its American Express white-label relationship, air volume slows as the result of the end of its 5-year exclusive relationship with Kayak and what we see as better air execution at EXPE and PCLN, and early traction in its Orbitz Rewards program (leading to higher contra-revenue) puts pressure on revenue growth," analysts wrote in a note to clients.
By market open, shares had cratered 9.3% to $8.12.
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Separately, TheStreet Ratings team rates ORBITZ WORLDWIDE INC as a Hold with a ratings score of C-. The team has this to say about their recommendation:
"We rate ORBITZ WORLDWIDE INC (OWW) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and weak operating cash flow."