Presenting yesterday at Bank of America Merrill Lynch's conference, Expedia reiterated its up 6%-11% adjusted EBITDA growth guidance for fiscal 2018, but provided a new, more specific Q1 adjusted EBITDA range of $50M-$100M, which is "significantly" lower than the consensus expectation of $174M, JPMorgan analyst Doug Anmuth tells investors in a research note. The outlook for Q1 makes 2018 even more back-half weighted, the analyst adds. He expects some near-term weakness in shares of Expedia and keeps a Neutral rating on the name with a $115 price target.