Despegar.com price target raised to $19 from $16 at B. Riley

B. Riley raised the firm’s price target on Despegar.com to $19 from $16 and keeps a Buy rating on the shares post the better than expected Q1 results and raised EBITDA outlook for the year. The analyst cites the company’s’ strong growth and profitability in the business for the target increase. The firm says management is prudently opting to invest in strategic initiatives to position the business for sustained strong growth over the medium and longer term.