Booking Holdings price target raised to $3,000 from $2,800 at Argus

Argus analyst John Staszak raised the firm’s price target on Booking Holdings to $3,000 from $2,800 and keeps a Buy rating on the shares. The analyst states that Argus holds a favorable view of online travel companies – particularly of Booking , given its focus on Europe, where it generates most of its gross profit. Argus further notes that Booking shares are trading at 17.9-times its revised 2023 EPS estimate, which is below the average for other online booking companies, but the firm believes that it merits a higher multiple given the company’s strong earnings outlook.