Lazard's Expedia (EXPE) Downgrade Weighs; Possible Hiccup in Turnaround Seen

Shares of Expedia (Nasdaq: EXPE) are down a sharp 3 percent Wednesday afternoon following concerning comments and a downgrade from Lazard Capital's Jake Fuller. The analyst now rates the stock a Neutral, down from Buy previously. Fuller suspended a $45 price target.

The lowered investment recommendation follows a 49 percent surge in Expedia shares since the company posted solid first-quarter results at the end of April. Fuller is concerned "slower 2Q revenue growth and flat-to-down margins could undermine confidence in the turnaround story." And with Street expectations recently moving higher, the analyst also noted a worry worsening air-travel trends within the US may begin to weigh.

Expedia shares last traded at $47.23.

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