Expedia price target raised to $220 from $210 at Argus

Argus raised the firm’s price target on Expedia (EXPE) to $220 from $210 and keeps a Buy rating on the shares. The company reported solid bookings in Q3 with strong demand internationally, and the management said that B2C bookings were accelerating and that B2B growth remained strong, the analyst tells investors in a research note. Argus adds that it expects Expedia to benefit from the growth of its VRBO vacation rentals segment as well as its loyalty program, while noting that its increased investments in new products, carefully managed expenses, higher marketing spend, and international growth should result in more favorable operating leverage and wider margins.