RBC Capital raised the firm’s price target on Booking Holdings (BKNG) to $3,900 from $3,550 and keeps an Outperform rating on the shares. The company’s Q4 results were “challenging”, though on the positive side, its room nights is growing in-line with Expedia (EXPE) at triple the volume, the analyst tells investors in a research note. Shares may take a small breather given a high-single-digit FY24 bookings outlook and a more modest expected margin expansion however, the firm added.
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Read More on BKNG:
- BKNG Earnings: Booking Holdings Stock Slides Despite Q4 Beat
- Booking Holdings price target raised to $3,900 from $3,500 at BofA
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- Seaport positive on Booking Holdings fundamentals, starts with Buy
- Booking Holdings initiated with a Buy at Seaport Research
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