Expedia's Turning Point? BofA Sees Upside With VRBO Gains And Post-Election Boost

BofA Securities analyst Justin Post upgraded Expedia Group, Inc. EXPE to Buy from Neutral and raised the price target to $221 from $187.The analyst says that U.S. bookings, reported OTA nights, and RevPAR data had been trending at low single digits in 2024, but he is seeing early signs of modest improvement, which may indicate a normalization in domestic leisure travel spending into 2025.While Expedia faced sentiment challenges due to soft B2C nights growth and revenues (-1% in the third-quarter of 2024) co ...