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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 07:14 EDT
Benchmark analyst Daniel Kurnos upgraded Expedia to Buy from Hold with a $155 price target. Although the quarterly results were somewhat disappointing, "Chairman Barry Diller's timing was impeccable, as the prior management team now gets to take the fall for the results," Kurnos tells investors, adding that he expects Expedia will be "given a pass" for at least the next six months. While he suspects it may take some time to get growth back to a more reasonable level, shares are trading at a valuation well below historical norms and he sees the stock being at the "start of another leg higher," Kurnos said.