JMP Securities analyst Nicholas Jones raised the firm’s price target on Booking Holdings (BKNG) to $5,400 from $5,000 and keeps an Outperform rating on the shares. Booking delivered solid Q3 results, beating consensus estimates for both revenue and adjusted EBITDA, and management raised full-year guidance, which came in above expectations amid normalizing travel trends, the analyst tells investors in a research note. The firm was encouraged by management’s commentary suggesting resilient travel demand, with expectations that it will see healthy room nights growth going forward, and is impressed by the resiliency of Booking’s business and its ability to continue delivering against its strategic initiatives.
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>>
Read More on BKNG:
- Booking Holdings price target raised to $5,100 from $4,650 at B. Riley
- Booking Holdings price target raised to $5,550 from $5,050 at UBS
- Booking Holdings price target raised to $5,500 from $5,000 at Oppenheimer
- Booking Holdings price target raised to $5,155 from $4,205 at BMO Capital
- Booking Holdings price target raised to $5,500 from $5,000 at TD Cowen