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This Expedia Analyst Is Buying The Dip

This Expedia Analyst Is Buying The Dip

Shares of Expedia Group Inc (NASDAQ: EXPE) gained more than 5% Friday after the online travel agency executed a series of corporate moves, including raising new capital.

The stock saw an upgrade by JMP Securities from Market Perform to Market Outperform with a $92 price target on the expectation that travel demand is likely to bottom in April.

The company solidified its balance sheet with a $4-billion debt and preferred equity raise, believing travel demand is likely at the trough in April, analyst Andrew Boone said in the upgrade note. 

With cancellations exceeding new bookings near term, this is the trough of travel demand, but the timing of travel recovery remains unclear, the analyst said. 

Expedia Has $8B Of Liquidity

Expedia has $8 billion-plus of liquidity that can see it through to a normalized travel environment, Boone said. 

“Capital raise gives Expedia $8 billion + in cash & a year for travel to normalize. With its announced $3.95 billion capital raise and $4.1 billion of cash at the end of 1Q20, Expedia now has $8 billion + of liquidity that can see it through to a normalized travel environment.” 

EXPE Price Action

Expedia shares were up 5.05% at $66.57 at the close Friday. The stock has a 52-week high of $144 and a 52-week low of $40.76.

Related Links:

Why Expedia's Stock Is Trading Higher Today

Expedia CEO, CFO Resign; Chairman Barry Diller, Vice Chair Kern To Takeover

Latest Ratings for EXPE

Apr 2021Truist SecuritiesMaintainsBuy
Apr 2021JefferiesMaintainsHold
Apr 2021Wolfe ResearchInitiates Coverage OnPeer Perform

View More Analyst Ratings for EXPE
View the Latest Analyst Ratings


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