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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 07:59 EDT
Guggenheim analyst Jake Fuller raised his price target on Expedia shares to $160 from $135 after Chairman Barry Diller's first earnings call in years, during which he "hit just the right note with a beat, talk of substantial cost cuts, and expectations for double digit growth." The company's $300M-$500M cost cutting target is substantially more than Fuller anticipated, he said, adding that he found the outlook and tone to be encouraging. He keeps a Buy rating on Expedia and increased his EBITDA estimates following the earnings report and call.