BTIG analysts reaffirmed a Buy rating and a $150 price target for Expedia (NASDAQ:EXPE), noting that while Expedia has some weak spots, such as VRBO and air travel, there are also significant strengths, particularly in its B2B segment.

Despite limited disclosures on key metrics like room nights or bookings, it was recently revealed that B2B accounted for approximately 100 million room nights last year. This new information provides a clearer picture of the growth composition, with B2B contributing to around 60% of room night growth in 2023.

The analysts suggest that the path to high-single-digit room night growth this year is feasible, with B2C expected to rise by mid-single digits (7% last year) and B2B projected to increase by 16-19% (30% last year).