Argus raised the firm's price target on Expedia to $315 from $270 and keeps a Buy rating on the shares. The company is benefiting from travel demand that continues to move online, as well as its diverse brands, and looking ahead, bookings are likely to benefit from increasing demand in the U.S. over the next 12 months, the analyst tells investors in a research note. Expedia shares are trading at historically low multiples, which appear unwarranted given evidence of recovery in the travel industry, Argus added.
