On July 27, Expedia rose 5.06% in regular trading, trading at $272.69/share, with turnover of $58.23 million. The stock surged as multiple investment banks issued upward revisions to their price targets, coinciding with broad strength across the travel sector.
On the news front, Goldman Sachs raised its price target on Expedia to $330 from $328 while maintaining a Buy rating. Baird adjusted its target to $294 from $290, keeping an Outperform rating. Earlier in July, Jefferies lifted its target to $310 from $300, also maintaining a Buy rating. The consensus mean price target stands at approximately $287 according to FactSet-polled analysts, with an average Overweight rating.
The broader travel sector rallied in tandem, with Booking Holdings up 4.07%, Carnival up 2.16%, Marriott up 1.72%, Hilton up 0.61%, and Royal Caribbean Cruises up 0.49%. Market attention is also turning to Expedia's upcoming earnings report on August 5, with consensus EPS expectations of $4.77, which may be further supporting buying momentum ahead of the release.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)