Booking Holdings price target raised to $2,850 from $2,675 at JPMorgan

JPMorgan analyst Doug Anmuth raised the firm’s price target on Booking Holdings to $2,850 from $2,675 and keeps an Overweight rating on the shares. The company reported solid Q4 results and strong January trends to start 2023, the analyst tells investors in a research note. The firm says Booking is not seeing signs of consumer trade down to lower-star hotels or reducing trip lengths despite macro headwinds. It believes the company’s 2023 outlook could be conservative and says the stock remains a top idea.