Expedia (EXPE) PT Raised to $155 at Mizuho Securities

May 7, 2021 7:17 AM EDT
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Price: $170.00 +0.51%

Rating Summary:
    25 Buy, 29 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 9 | New: 61
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Mizuho Securities analyst James Lee raised the price target on Expedia (NASDAQ: EXPE) to $155.00 (from $135.00) while maintaining a Neutral rating ahead of the company's 2Q. Lee expects room night growth for 2Q21 to come in ahead of consensus due to a faster recovery in the US and a mix shift to VRBO.

Management disclosed that the company has received a binding offer from American Express Global Business Travel to acquire Egencia. As per deal terms, Expedia will receive 14% ownership of the combined entity valued at nearly $750m and a 10-year lodging supply agreement with EPS which could generate $60m EBITDA.

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