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Expedia price target lowered to $55 from $66 at Piper Jaffray

Piper Jaffray lowered its price target for Expedia (EXPE) citing the company's weak Q2 results and keeps a Neutral rating on the stock. Piper believes Expedia is facing increasing competitive marketing intensity the U.S. from booking.com, TripAdvisor (TRIP), and others.