BTIG raised the firm’s price target on Expedia to $175 from $150 and keeps a Buy rating on the shares. The stock is close to a 52-week high and has surpassed the firm’s prior price target, but the firm continues to see the valuation as attractive, the analyst tells investors. Expedia trades well below its historical average multiple and is better positioned than it was pre-pandemic with a stronger margin profile, says the analyst, who adds that the firm’s new target is based on “a still-modest” 2024 EBITDA multiple this is a discount to the pre-2020 average despite the now stronger margin profile.
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