Expedia price target raised to $272 from $212 at Wells Fargo

Wells Fargo raised the firm’s price target on Expedia (EXPE) to $272 from $212 and keeps an Equal Weight rating on the shares. The firm notes Q3 room night growth and margins well above and guiding to more of the same in Q4 as improved execution under new executive team continues. Wells sees 7% positive EBITDA revision to 2026/2027, and it expects multiple expansion may be a struggle given bearish AI narrative.