Expedia price target raised to $212 from $211 at Wells Fargo

Wells Fargo raised the firm’s price target on Expedia (EXPE) to $212 from $211 and keeps an Equal Weight rating on the shares. The firm is constructive on the fundamental setup into Q3 earnings, with expectations for U.S. travel improvement relatively modest. Healthy VRBO and brand Expedia traffic supports upside to consensus room nights, with offset from continued AI disintermediation risk, Wells adds.