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BofA Securities analyst Justin Post reiterated a Buy rating on the shares of Expedia Group Inc. EXPE on Monday and lowered the price forecast from $250.00 to $205.00.
The analyst expects Expedia to face challenges from a slowdown in U.S. travel demand ahead of its May 8 earnings report.
With peers reporting weaker year-over-year growth in booked nights and domestic air travel showing signs of pressure, Expedia’s nights growth is projected to slow to 5% in the first quarter.
Bookings are estimated at $31.5 billion, slightly below consensus. The second-quarter EBITDA is forecast at $272 million, which is helped by Trivago revenue and lower first-quarter marketing costs.
U.S. travel indicators are softening, with TSA enplanements nearly flat in March and hotel revenue per available room (RevPAR) turning negative in April.
Also Read: Wall Street Reacts As Airbnb Eyes Growth Amid US Slowdown
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