DESP - Despegar.com extends rally after KeyBanc ratings bump

Despegar.com ([[DESP]] +9.6%) spikes higher after the retailer is raised by KeyBanc Capital Markets to an Overweight rating from Sector Weight. Analyst Edward Yruma points to strong secular tailwinds for DESP and sees more promising signs from the company's earnings report from gradually reopening markets. Despegar.com is called well positioned to benefit from a resumption in Latin America travel and it is notably one of the cheaper names in the sector.KeyBanc assigns a price target of $23 to rep 35% upside potential for shares and stand well-above the average price target of $13.00.

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Despegar.com extends rally after KeyBanc ratings bump