Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Expedia (EXPE) to $178 from $149 and keeps an Equal Weight rating on the shares. The firm says improving traffic trends to Expedia properties and improving macro are likely to yield upside to Q2/second half of the year consensus bookings and EBITDA. Wells acknowledges some persistent geopolitical uncertainty impacting U.S. travel trends, but sees Expedia as preferred OTA stock for the second half of the year.
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