RBC Capital lowered the firm’s price target on Expedia (EXPE) to $180 from $200 and keeps a Sector Perform rating on the shares. The company’s Q1 results were mixed with B2B room nights and Ads growing solidly but U.S. travel headwinds having a “significant impact”, the analyst tells investors in a research note. This will bring estimates down and stall progress on Vrbo in particular, which is almost entirely exposed to U.S. travel, RBC warns.
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