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Fly News Breaks for October 20, 2016
EXPE
Oct 20, 2016 | 07:16 EDT
Pacific Crest analyst Brad Erickson upgraded Expedia to Overweight from Sector Weight after conversations with property owners indicated "overall high satisfaction" with the HomeAway platform as well as very limited desire and ability to move to competing platforms. The analyst believes this dynamic is underappreciated in Expedia shares at current levels. He sees a favorable risk/reward and set a $160 price target for the stock. Expedia closed yesterday up $1.86 to $124.69.
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