Expedia price target lowered to $260 from $290 at Wedbush

Wedbush lowered the firm’s price target on Expedia (EXPE) to $260 from $290 and keeps a Neutral rating on the shares. The firm notes management has observed healthier sentiment and a more constructive demand backdrop versus initial expectations as the company works to demonstrate steady demand improvement across all key brands. Commentary has been encouraging vs. initial expectations, with management observing longer lengths of stay and extended booking windows last quarter. Wedbush sees upside to near-term estimates, though it remains sidelined and waits for more evidence of sustained improvements in demand trends.