JMP Securities raised the firm’s price target on Booking Holdings to $3,950 from $3,600 and keeps an Outperform rating on the shares. Booking delivered solid Q4 results, with both revenue and adjusted EBITDA finishing slightly above consensus estimates, but guidance came in softer-than-expected as travel demand continues on its path to normalization, the analyst tells investors in a research note. The firm views Booking as the top travel platform to weather the moderating industry environment and believes the company is well-positioned for further market share gains progressing through 2024 and beyond.
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