BofA raised the firm’s price target on Booking Holdings (BKNG) to $5,580 from $5,540 and keeps a Neutral rating on the shares ahead of the company’s earnings due on April 29. Following Accor’s Q1 results and outlook that suggested an improving month-over-month April RevPAR, plus foreign exchange moves since February, the firm thinks the Q2 guidance set up is “constructive,” the analyst tells investors in a preview. However, given that recession and slowing international travel risks are elevated, the firm isn’t anticipating material multiple expansion for the online travel agency group, the analyst added.
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