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Investing.com — Baird on Wednesday said it was initiating coverage on online booking firms Expedia Inc (NASDAQ:) and Booking Holdings Inc (NASDAQ:), giving them both an “outperform” rating, citing positive travel demand environment.
The brokerage set a $225 price target for Expedia, forecasting a potential total return of over 22%. It highlighted the company’s significant business transformation, driven by a unified brand strategy and an integrated back-end technology platform. While these changes have been disruptive, they position Expedia for a meaningful turnaround.
Expedia had undertaken a restructuring effort that enables customers to book across brands through a single platform. Its portfolio includes the vacation rental service Vrbo and Hotels.com.
Brokerage noted execution challenges and heightened competition in the online travel space but noted that these risks appear to be priced in into the stock’s current valuation, which remains discounted.
For Booking…
