Argus raised the firm’s price target on Booking Holdings to $4,342 from $4,200 and keeps a Buy rating on the shares. The firm has a favorable view of online travel companies and particularly Booking given its focus on Europe, where it generates the most of its gross profit, the analyst tells investors in a research note. The company’s results stand to benefit as growing numbers of travelers book their flights, hotel reservations, and vacation rentals online, Argus adds, also citing the economic reopening in China, continued strong demand for travel, and the Booking’s history of positive earnings surprises. The firm is also boosting its FY24 EPS view for the company to $183 from $182 and its FY25 view to $212 from $210.
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