Goldman Sachs Downgrades Expedia (EXPE) to Sell

March 26, 2020 5:27 AM EDT
Get Alerts EXPE Hot Sheet
Price: $153.59 +0.86%

Rating Summary:
    24 Buy, 31 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 9 | New: 24
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Goldman Sachs analyst Heath Terry downgraded Expedia (NASDAQ: EXPE) from Neutral to Sell with a price target of $50.00 (from $126.00).

The analyst comments "We realize the risk in downgrading Expedia, as it’s already well-understood that travel is in a depressed state, a recession is likely, and the stock is already down over 50% from its pre-crisis high. That said, with EXPE already up over 28% off its lows, we believe the risk is high that investors may be overly optimistic about the prospects for a sharp recovery in online travel or Expedia’s ability to fully participate given the company’s balance sheet and the need to reduce costs and investments."

For an analyst ratings summary and ratings history on Expedia click here. For more ratings news on Expedia click here.

Shares of Expedia closed at $64.50 yesterday.

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