Editas upgraded at Wells Fargo as Australia approves gene editing trial

Wells Fargo reduced its price target on Expedia Group Inc. (NASDAQ: EXPE) to $275 from $307, while keeping an Equal Weight rating. The current stock price of $260 suggests it is undervalued based on its Fair Value. The company shows a strong financial position with a perfect Piotroski Score of 9 and an appealing PEG ratio of 0.16, indicating a low P/E ratio relative to its near-term earnings growth.

Wells Fargo revised its third-quarter 2026 lodging bookings estimate downward by 2% to 6.1% year-over-year growth, slightly below the average analyst estimate. The nights estimate remains stable at 3% growth, 70 basis points below Street expectations. The firm anticipates third-quarter adjusted EBITDA near the higher end of guidance at $1.555 billion, about 20 basis points above consensus.

Margin is expected to remain flat year-over-year at 32.8%. However, rising paid traffic intensity may limit margin upside due to increased marketing investment. Analysts view the third quarter of 2026 as the year's low point for nights growth. Full-year 2026 bookings guidance remains unchanged due to volatile travel trends and an uncertain economic outlook.

Expedia Group Inc. reported robust second-quarter 2026 results, with 12% YoY increases in gross bookings and revenue, and a 23% rise in adjusted EBITDA to $1.12 billion. UBS upgraded its price target to $351, maintaining a Neutral rating, while Morgan Stanley initiated coverage with an Underweight rating and a $235 target. Rosenblatt Securities started coverage with a Neutral rating and a $360 target, noting the company's multi-year turnaround and growth strategy shift.

Truist Securities maintained a Hold rating with a $288 price target, citing potential earnings growth in the second half of 2026, but cautioned about Meta Platforms' new AI agent, Muse, which could impact online travel agency stocks.