Expedia price target raised to $211 from $178 at Wells Fargo

Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Expedia (EXPE) to $211 from $178 and keeps an Equal Weight rating on the shares. The firm notes the company is navigating successfully through challenging U.S. travel landscape, as bookings accelerated and margin improvement came in ahead. Should U.S. lodging industry trends show improvement, Wells sees opportunity for both positive revisions and multiple expansion.