In a report released yesterday, Daniel Kurnos from Benchmark Co. maintained a Buy rating on Expedia, with a price target of $215.00.
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Daniel Kurnos has given his Buy rating due to a combination of factors influencing the travel industry. Despite some conflicting data points, such as soft international travel data and softened vacation rental trends, there is optimism surrounding domestic travel demand. Delta’s recent call for stabilization and potential acceleration in demand during the fourth quarter adds a positive outlook for the sector.
Additionally, while there are concerns about international travel and macroeconomic uncertainties, the potential recovery in business travel could benefit Expedia. The stock’s current valuation, trading at a relatively low multiple of cash flow, presents a longer-term investment opportunity. This, combined with the broader recovery in the travel sector, supports the Buy rating for Expedia.
According to TipRanks, Kurnos is a 4-star analyst with an average return of 8.0% and a 52.72% success rate. Kurnos covers the Communication Services sector, focusing on stocks such as Roku, E. W. Scripps Company Class A, and Magnite.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $211.00 price target.