Booking Holdings price target lowered to $5,462 from $5,522 at BofA

BofA lowered the firm’s price target on Booking Holdings (BKNG) to $5,462 from $5,522 and keeps a Neutral rating on the shares. Given “healthy” Q4 data and historical beats, the firm thinks the Street expects Q4 bookings and nights a point or two above Visible Alpha consensus. However, it thinks the bookings outlook for Q1 could be slightly below the Street’s 8% growth view and it is lowering estimates and and its price target slightly due to foreign exchange headwinds, the analyst tells investors in a preview for the online travel agent group.