Wedbush lowered the firm’s price target on Expedia to $125 from $130 and keeps a Neutral rating on the shares. Expedia reported mixed Q1 results as adjusted EBITDA exceeded expectations by $75M while gross bookings were 1% below estimates, the analyst tells investors in a research note. Execution risk remains an overhang on shares as results continue to underperform expectations, Wedbush contends.
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