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Fly News Breaks for February 9, 2018
EXPE
Feb 9, 2018 | 06:27 EDT
Citi analyst Mark May lowered his price target for Expedia to $140 from $170 following the company's Q4 results but views the corresponding stock selloff as overdone. EBITDA guidance for 2018 of 6%-11% is lower than expected as the company plans to invest more heavily in supply growth and its cloud migration project, May tells investors in a post-earnings research note. The analyst still believes in sustainable growth of 10%-15% for Expedia and keeps a Buy rating on the shares.
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