Wedbush raised the firm’s price target on Expedia (EXPE) to $130 from $115 to reflect the latest views heading into 2024, while keeping a Neutral rating on the shares. While comp dynamics favor Expedia relative to Booking (BKNG) in 2024, the firm believes it will prove difficult to sustainably regain market share following the significantly higher growth at Booking and Airbnb (ABNB) over the pandemic-period and changes particularly to Booking’s business that allow it to compete more directly with Expedia in the U.S.
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