Expedia falls after Barclays downgrades to 'equal-weight'

Global Brokerage

12/12/2023 17:20

** Shares of online travel booking company Expedia  EXPE.O 
falls 2% to $145.4 
    ** Brokerage Barclays downgrades stock to "equal-weight"
from "over-weight" 
    ** However, Barclays raises PT to $150 from $136
    ** Brokerage says potential bookings and revenue growth to
decelerate across sector as outlook for travel softens 
    ** Brokerage has also downgraded peer Airbnb  ABNB.O 
    ** Barclays says there's a myriad of competitive programs to
compete with co's 'One Key' loyalty program 
    ** Brokerage says travel patterns are cyclical by region,
and adds that it is cautious over co's over-indexing in North
America 
    ** Brokerage also notes peer Booking.com  BKNG.N  has a
marketing efficiency edge over EXPE 
    ** Stock is up 66% YTD
    

 (Reporting by Pranav Kashyap in Bengaluru)