Expedia price target raised to $150 from $135 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Expedia to $150 from $135 and keeps an Equal Weight rating on the shares. Q4 gross bookings, revenue and EBITDA were largely in line with the firm’s expectations, but Q1 and FY24 guidance indicates results will be second half weighted, which raises uncertainty around forward growth and margins and increases the importance of execution, the analyst tells investors.