Truist lowered the firm’s price target on Expedia (EXPE) to $168 from $175 and keeps a Hold rating on the shares. The company’s geographic exposure continues to challenge and complicate the upside case given its two-thirds point of sale being in the U.S, and the firm is particularly cautious on vacation rental forward booking trends impacting the U.S.-heavy Vrbo brand, the analyst tells investors in a research note. Truist adds however that the B2B growth is aided by decent Asia ex-China trends, helping balance the stock’s rating.
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