Expedia price target lowered to $175 from $180 at Piper Sandler

Piper Sandler analyst Thomas Champion lowered the firm’s price target on Expedia to $175 from $180 and keeps an Overweight rating on the shares. Expedia reported weaker Q4 results, though the stock had a huge run into the print and guidance for FY24 is consistent with the firm’s expectations, the analyst tells investors in a research note. Piper still sees opportunity for multiple expansion vs. travel peers as Expedia executes on a technology transformation and re-tooling of the rewards program.