Booking Holdings price target lowered to $3,900 from $4,300 at Evercore ISI

Evercore ISI lowered the firm’s price target on Booking Holdings to $3,900 from $4,300 and keeps an Outperform rating on the shares. Despite saying the company reported a “Solid Beat Quarter” with bookings, revenue, EBITDA, and room nights all coming in above Street view, the firm adds “these results are not particularly impressive….hence, the 4% after-market correction.” In addition, Booking’s Q4 guidance was mixed versus the Street, with bookings and revenue low-single digits above the Street view, EBITDA in line with the Street view and room nights slightly below, the analyst tells investors.