Expedia price target raised to $250 from $205 at BMO Capital

BMO Capital raised the firm’s price target on Expedia (EXPE) to $250 from $205 and keeps a Market Perform rating on the shares. The company reported a solid beat across the board, with Booked Room Nights 4% ahead of consensus and Bookings 6% above Street estimates, the analyst tells investors in a research note. The firm adds however that Vrbo’s competition with Airbnb (ABNB) and Booking.com (BKNG) remains intense, particularly in the U.S., and higher-than-expected marketing spending for Vrbo and Hotels.com could limit the potential for margin expansion.