Analyst Stephen Ju of UBS maintained a Buy rating on Booking Holdings, boosting the price target to $6,806.00.
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Stephen Ju has given his Buy rating due to a combination of factors that highlight Booking Holdings’ strong performance and potential for growth. The company has shown significant acceleration in room night growth within the US market, moving from low to high single-digit year-over-year growth. This improvement is partly attributed to increased business-to-business activity and the expansion of Booking’s travel product lineup, which now includes air ticketing and alternative accommodations. These offerings contribute to the ‘Connected Trip’ concept, enhancing Booking’s market share in the travel industry.
Furthermore, Stephen Ju notes that Booking Holdings has exceeded expectations in the recent quarter, leading to an upward revision of the full-year guidance. The growth in alternative accommodations and air ticket bookings indicates a positive consumer response to the company’s expanded services. Additionally, the substantial increase in attractions bookings suggests potential for increasing customer spending beyond traditional accommodations. Despite some challenges, such as modest deceleration in alternative accommodations growth, the overall outlook remains positive, justifying the Buy rating and the raised price target to $6806.
In another report released today, Barclays also maintained a Buy rating on the stock with a $6,250.00 price target.