** Argus Research raises price target on online travel agency Expedia EXPE.O to $315 from $270; reiterates "buy" rating

** New PT represents an 18.1% premium to stock's last close

** Brokerage expects continued investment in new products, alongside carefully managed expenses, increased marketing expenditure, and international expansion, to drive stronger operating leverage and support margin expansion

** Looking ahead, bookings are likely to benefit from increasing demand in the U.S. over the next 12 months - brokerage

** Expects EXPE's new loyalty program and AI-related improvements to its technology platform to drive rapid earnings growth; estimates a long-term EPS growth rate of 25%

** Median PT of 38 brokerages covering the stock is $278 - data compiled by LSEG

** As of last close, EXPE down ~6% YTD