Why Expedia Stock Jumped Today
Shares of Expedia (NASDAQ: EXPE) have jumped today, up by 6% as of 12:20 p.m. EDT, after a couple of Wall Street analysts expressed confidence in the travel booking specialist's ability to weather the COVID-19 downturn. The company also said it was drawing a credit line to beef up its cash position in preparation.
Analysts at Suntrust and Credit Suisse both reiterated buy (or equivalent) ratings on Expedia stock while adjusting price targets to accommodate for recent market volatility. Suntrust reduced its price target from $172 to $140, while Credit Suisse cut its estimate from $161 to $105. Both targets represent considerable upside to current prices of around $49.
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Source Fool.com
