Expedia Group shares are rising after analysts at Oppenheimer raised their rating on the online travel firm to Outperform from Perform.
The analysts, led by Jed Kelly, set a target of $120 for Expedia stock (ticker: EXPE), highlighting improved margins achieved through slashing costs and making customer service more efficient. Kelly said he believes Expedia can maintain improvements to margins achieved over the past three years as its revenue rises to the levels seen in 2019, before the pandemic devastated the travel business, partly because the company is succeeding in making its tech systems work more smoothly together.
Expedia Stock Is Upgraded Because Margins Have Gotten Better
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