Booking Holdings price target lowered to $3,800 from $3,900 at Evercore ISI

Evercore ISI lowered the firm’s price target on Booking Holdings to $3,800 from $3,900 and keeps an Outperform rating on the shares following what the firm describes as “Modest Beat & Lower Q4 EPS results.” Q1 guidance for Room Nights growth, Bookings growth and EBITDA all came in “moderately below” Street expectations, while full year guidance for Bookings growth, revenue and EBITDA were all below the Street view, notes the analyst, who trimmed the firm’s FY24 Bookings and Revenue estimates by 1%-2% and cut its EBITDA forecast 7%.