Lazard Upgrades Expedia (EXPE) to Buy, Downgrades MakeMyTrip (MMYT) to Neutral

Lazard Capital revised ratings on two stocks in the Online Travel sector Friday morning, effectively putting on a pair trade:

• upgraded Expedia (Nasdaq: EXPE) from Neutral to Buy with a $30 price target
  
• downgraded MakeMyTrip (Nasdaq: MMYT) from Buy to Neutral

Shares of Expedia are up 1.7 percent to $25.55 in pre-market action; MakeMyTrip shares are down 1.2 percent to $27.25.

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