Barclays Downgrades 2 Travel Stocks

Both EXPE and ABNB are sporting well-priced premium

Deputy Editor
Dec 12, 2023 at 12:13 PM
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Expedia Inc (NASDAQ:EXPE) stock is sliding from last session's 52-week high of $149.94, after a downgrade from Barclays to "equal weight" from "overweight. The firm also lifted its price target to $150 from $136, however. 

Down 1.8% at $145.63 at last look, the travel stock is on track to snap a four-day win streak. EXPE is up 22.7% in just the last month and carrying a 66.3% year-to-date lead. Today's drop could've already been in the cards though, as the equity's 14-day relative strength index (RSI) of 87 sits firmly in "overbought" territory. 

Airbnb Inc (NASDAQ:ABNB) is off 2% at $140.05 today -- hitting $137.58 at its session lows -- and looking to snap a five-day win streak. Barclays downgraded the stock to "underweight" from "equal weight," with a price-target cut to $100 from $135, while Truist Securities threw in a price-target cut to $118 from $126. 

ABNB has been chopping up the charts since November, with help from its 20-day moving average, after its extended consolidation at the $115 level. Since the start of the year, the equity is up 63.5%. 

Airbnb and Expedia stock are both seeing attractively priced premium at the moment, making now a good time to weigh in with options. ABNB's Schaeffer's Volatility Index (SVI) of 33% sits in the low 6th percentile of its annual range, while EXPE's SVI of 29% ranks in the 9th percentile. 

 

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