Expedia price target lowered to $184 from $192 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Expedia (EXPE) to $184 from $192 and keeps a Hold rating on the shares ahead of the Q4 earnings report. While demand in the quarter was robust and Deutsche Bank sees upside relative to Street estimates on nights, bookings, and adjusted EBITDA, the firm has “concerns” related to the Q1 and fiscal 2025 outlook, the analyst tells investors in a research note. Data checks, which suggest a strong December, note that momentum has cooled into January, with Vrbo seeing sales decline at a mid-teens rate year-over-year in January, despite compares that eased meaningfully in Q1, Deutsche Bank says. The firm says fiscal year expectations represent a “high hurdle.”