SunTrust analyst Naved Khan kept his Buy rating and $170 price target on Expedia, but noted that his "deep-dive analysis" into the company's cloud migration suggests that it should "boost its operational prowess via improved user experience, more efficient ad spend, meaningful productivity gains and higher conversions." Khan believes that the impact will be felt further through faster growth, with upside of as much as $325M to his above-consensus EBITDA and free cash flows estimated for 2020. The analyst adds that his bullish view on Expedia further reflects positive traction from the company's growth investments.