UBS raised the firm’s price target on Expedia (EXPE) to $234 from $209 and keeps a Neutral rating on the shares as part of a Q3 earnings preview for the online travel group. UBS is concerned about how traffic mix across the internet will shift as ChatGPT continues to gain users. It sees Airbnb as being “most insulated” given its “most-fragmented” inventory, followed by Booking, Expedia, Tripadvisor and Trivago.
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