Expedia price target raised to $152 from $125 at DA Davidson

DA Davidson raised the firm’s price target on Expedia to $152 from $125 but keeps a Neutral rating on the shares. The company’s Q4 results were “mixed but generally decent”, with Gross Bookings a bit light due primarily to weakness in Air, the analyst tells investors in a research note. The firm adds that investors will be disappointed by the departure of CEO Peter Kern as he has accomplished a lot for Expedia, shoring up the company’s balanced sheet and right-sizing its cost structure during the scariest days of the Pandemic, and then embarking on a “very ambitious” technological transformation and consolidation of the company’s various brands.