JMP Securities raised the firm’s price target on Booking Holdings to $3,600 from $3,000 and keeps an Outperform rating on the shares. Booking reported strong Q2 results, beating both revenue and adjusted EBITDA estimates by 6% and 21%, respectively, and now expects gross bookings to grow slightly over 20% y/y in 2023, up from its previous guidance of low-teens growth, the analyst tells investors in a research note. The firm continues to see Booking’s efforts to execute against its Connected Trip initiative, grow its alternative accommodations business in the U.S., and innovate around AI/ML tools as key drivers to its continued dominance in the industry.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BKNG:
- Early notable gainers among liquid option names on August 4th
- Booking Holdings price target raised to $3,450 from $3,200 at Wedbush
- Airbnb price target raised to $168 from $145 at Evercore ISI
- Booking Holdings price target raised to $3600 from $3325 at TD Cowen
- Booking Holdings price target raised to $3,325 from $2,950 at Credit Suisse