- Argus upgrades Expedia (NASDAQ:EXPE) to a Buy rating after having the online travel stock slotted at Hold.
- Analyst John Staszak: "Expedia reported increased bookings in January, and appears on track to post above-peer-average earnings growth in 2021, recovering from its sharp losses in 2020. We also look for an accelerated recovery in 2022, with earnings of $6.00 per share, helped by the broad distribution of coronavirus vaccines. In addition, we expect Expedia to benefit from the growth of its VRBO vacation rentals segment. Our long-term rating remains BUY based on our expectations for continued post-pandemic growth in online purchases of airline tickets, hotel rooms, and other travel services."
- Shares of Expedia are up 2.78% premarket to $167.30. Argus assigns a price target on EXPE of $188 vs. the average Wall Street PT of $156.70.