Expedia price target raised to $140 from $137 at Wells Fargo

Wells Fargo raised the firm’s price target on Expedia to $140 from $137 and keeps an Equal Weight rating on the shares. Expedia has an attractive valuation and modestly improving fundamentals with second half night estimates rising slightly on better traffic trends and improving U.S. RevPAR, the analyst tells investors in a research note. The firm sees a favorable earnings setup and expects an in-line Q2 print.