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Fly News Breaks for December 2, 2019
BKNG, TRIP, EXPE
Dec 2, 2019 | 06:46 EDT
Mizuho analyst James Lee lowered his price target for Neutral-rated Expedia (EXPE) to $100 from $115 and Neutral-rated TripAdvisor (TRIP) to $35 from $40. Booking Holdings (BKNG) remains the analyst's top online travel agency pick with a Buy rating and $2,150 price target. Google's Core Update has negatively impacted the companies' organic search traffic in March, July and most recently in September, Lee tells investors in a research note. He expects Expedia's search engine optimization traffic decline to accelerate in Q4.