Expedia price target raised to $136 from $115 at JPMorgan

JPMorgan raised the firm’s price target on Expedia to $136 from $115 and keeps a Neutral rating on the shares. The company reported Q4 results mostly in line with Street expectations across key metrics, but likely light of higher buy-side expectations, coupled with a mixed outlook across Q1 and 2024, the analyst tells investors in a research note. The firm come away incrementally positive on the progress of Expedia’s transformation, improvements and streamlining of the tech stack, further margin expansion, and a more upbeat tone to go on the offensive, but says solid execution is “critical while macro uncertainty remains an overhang,” keeping it on the sidelines.