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Investing.com - Truist Securities lowered its price target on Expedia (NASDAQ:EXPE) stock to $168.00 from $175.00 on Tuesday, while maintaining a Hold rating on the online travel company.
The price target reduction reflects a half-turn multiple decrease due to macroeconomic concerns, with Truist now applying a 10.5x target multiple to its 2026 earnings per share estimate of $16.00, which was adjusted from a previous $15.87 forecast.
Truist maintained its 2025 Adjusted EBITDA projection at $3.12 billion while slightly reducing its EPS estimate to $13.79 from $13.81. For 2026, the firm lowered its Adjusted EBITDA projection to $3.26 billion from $3.32 billion.
The firm expressed particular caution regarding vacation rental forward booking trends that could impact Expedia’s U.S.-heavy Vrbo brand, noting that approximately two-thirds of the company’s sales come from the United States.
Truist indicated that Expedia’s B2B growth benefits from favorable trends in Asia excluding China, which helps balance the overall outlook for the company and supports the firm’s Hold rating.
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