CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lower our 12-month price target by $3 to $240, representing 13x our 2026 EPS estimate (unchanged multiple), a significant discount to EXPE's 21x five-year average forward multiple. We lower our 2026 EPS estimate to $18.51 from $18.55 and 2027's to $20.38 from $20.42, reflecting modestly lower gross bookings growth expectations. We downgrade EXPE from Hold to Sell as we believe shares are overvalued given heightened macroeconomic risks and the company's concentrated U.S. exposure. Elevated oil prices are pressuring U.S. consumer discretionary budgets, which would disproportionately impact EXPE relative to peers given approximately 60% of its business is U.S.-based. Consensus revenue estimates have been revised up 6% on recent bookings momentum but have been slow to reflect recent macroeconomic volatility, suggesting potential downside risk. Additionally, AI-driven search and booking tools represent a longer-term disintermediation threat to EXPE's traditional online travel agency model.