Expedia price target raised to $265 from $215 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Expedia (EXPE) to $265 from $215 and keeps a Buy rating on the shares after the company raised annual guidance, citing an uptick in overall travel demand since the beginning of July, particularly in the U.S. Even though it was “somewhat expected,” the margin guidance raise for the year “put the recovery story right and long-term margin narrative back on the table,” the analyst added.