BMO Capital analyst Brian Pitz raised the firm’s price target on Expedia (EXPE) to $255 from $250 and keeps a Market Perform rating on the shares. The company reported a solid beat, with Booked Room Nights 1% ahead of consensus and Bookings 3% above the Street estimates, the analyst tells investors in a research note. The firm warns however that higher-than-expected marketing spending for Vrbo and Hotels.com could limit the potential for margin expansion.
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