Expedia price target raised to $190 from $135 at DA Davidson

DA Davidson raised the firm’s price target on Expedia (EXPE) to $190 from $135 and keeps a Neutral rating on the shares. The company’s Q3 gross bookings topped expectations as its Consumer business accelerated for the 2nd consecutive quarter, and while revenue missed consensus, adjusted EBITDA outperformed on “effective expense management”, the analyst tells investors in a research note. Travel demand also improved as Q3 progressed – International demand was stronger than the U.S. as booked room nights grew in the low single digits in the U.S., low double digits in Europe, and high-teens in the rest of the world, the firm added.