Expedia price target raised to $120 from $110 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on Expedia to $120 from $110 and keeps a Neutral rating on the shares. While travel data remained strong into the quarter when looking at flight volume and hotel pricing, the positive news is mostly priced in with tough comps on the horizon, the analyst tells investors in a research note. With moderating inflation and resilient consumer spending, the firm prefers the gig economy space given favorable unit economics, improving productivity, and market share gains for category leaders.