Expedia initiated with a Neutral at Mizuho

Mizuho initiated coverage of Expedia (EXPE) with a Neutral rating and $240 price target The firm views the stock’s risk/reward as balanced given its cautioun around how Expedia’s business-to-consumer accelerates while optimizing marketing. Airbnb is pushing into hotels more aggressively, which could create an overhang on Expedia’s multiple, the analyst tells investors in a research note.