BTIG analyst Jake Fuller names Expedia (EXPE) as his BTIG Top Pick for first half of 2023, replacing Uber (UBER) on that list. The company has reduced pandemic leverage and its free cash flow profile has also improved, the analyst tells investors in a research note, adding that the stock also trades at an 8-turn EBITDA multiple discount to Booking Holdings (BKNG) vs. an historical average of 4-turn. That gap should narrow as concerns around Expedia market share and marketing efficiency should fade, Fuller states. The analyst has a Buy rating and a $150 price target on the stock.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on EXPE:
- Expedia price target lowered to $108 from $122 at DA Davidson
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- Expedia downgraded to Underperform from Peer Perform at Wolfe Research
- Barry Diller tells CNBC he hopes Netflix stays independent