Expedia (EXPE) shares closed meaningfully lower on Sept. 16 after a senior Morgan Stanley analyst, Brian Nowak, downgraded the travel technology company to “Underweight.” In his research note, Nowak assigned a $235 price target to EXPE, indicating it could sink another 20% from current levels.
His bearish call is significant given Expedia stock has already been in a downtrend, with its price currently trailing the recent high by about 15%.
