Expedia price target raised to $235 from $210 at Oppenheimer

Oppenheimer analyst Jed Kelly raised the firm’s price target on Expedia (EXPE) to $235 from $210 and keeps an Outperform rating on the shares following 16% Q4 EBITDA beat and providing initial 2025 EBITDA guidance in line with consensus. The firm believes 2025 outlook for revenue growth/margin expansion of 4%-6%/50bps appears achievable based on improving Vrbo/Hcom trends that suggests B2C can grow 6%-plus, while implied B2B deceleration to low-double digits appears conservative, despite FX overhang.