Booking Holdings price target raised to $5,550 from $5,050 at UBS

UBS raised the firm’s price target on Booking Holdings (BKNG) to $5,550 from $5,050 and keeps a Buy rating on the shares. Booking posted a clean beat across Room Nights, Revenue, and adjusted EBITDA, which all exceeded Street expectations, while EPS only missed due to a $365M one-time expense, the analyst tells investors in a research note. The firm says alternative accommodations growth remained durable and airline tickets and rental car days accelerated, suggesting that Booking’s Connected Trip initiative is resonating with consumers.