Expedia price target raised to $225 from $200 at Benchmark

Benchmark raised the firm’s price target on Expedia (EXPE) to $225 from $200 and keeps a Buy rating on the shares. Growth guidance “was not entirely clean”, with top line expectations likely to come down across the Street, but the firm does not expect “much if any movement on EBITDA, which is really where the bull argument rests longer term,” says the analyst, who calls a dividend re-initiation “the cherry on top.” The firm notes it had called out Expedia in January as one of its top ideas this year, and says that “assuming the macro just remains stable, we feel comfortable that fundamentals and shares could outperform nicely.”