Booking Holdings price target raised to $3,265 from $2,950 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on Booking Holdings to $3,265 from $2,950 and keeps a Buy rating on the shares. While travel data remained strong into the quarter when looking at flight volume and hotel pricing, the positive news is mostly priced in with tough comps on the horizon, the analyst tells investors in a research note. With moderating inflation and resilient consumer spending, the firm prefers the gig economy space given favorable unit economics, improving productivity, and market share gains for category leaders.