Booking Holdings price target raised to $5,045 from $4,000 at Argus

Argus raised the firm’s price target on Booking Holdings (BKNG) to $5,045 from $4,000 and keeps a Buy rating on the shares. The firm has a favorable view of online travel companies, and particularly of Booking, given the company’s focus on Europe, where it generates most of its gross profit. The stock is trading at a discount to peers, but its “strong earnings outlook merits a higher multiple,” the analyst tells investors in a research note.