Expedia upgraded to Neutral from Underweight at Piper Sandler

Piper Sandler upgraded Expedia (EXPE) to Neutral from Underweight with a price target of $250, up from $190. The company reported “very strong” Q3 results and Q4 guidance, the analyst tells investors in a research note. Piper says Expedia’s eookings are accelerating, the technology re-platforming is driving better operating leverage and management is “getting sharper” around loyalty and marketing spend. It upped estimates materially post the quarter.