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Fly News Breaks for December 4, 2019
EXPE
Dec 4, 2019 | 10:33 EDT
Guggenheim analyst Jake Fuller says the surprise ouster of Expedia's CEO Mark Okerstrom and CFO Alan Pickerill raises questions about the company's 2020 outlook. Fuller says a disagreement over growth prospects was part of the reasoning for the ousters, suggesting the CEO and CFO may have been getting ready to drop weak guidance, and says it will be "hard" to form a solid thesis until there is more visibility on the 2020 outlook, new leadership and strategic focus. The analyst keeps a Buy rating and $135 price target on the shares.
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