Booking Holdings price target raised to $6,000 from $5,500 at Oppenheimer

Oppenheimer raised the firm’s price target on Booking Holdings (BKNG) to $6,000 from $5,500 and keeps an Outperform rating on the shares. The stock is up 25% in the last 60 days on the company’s solid Q3 EBITDA beat and Q4 night guidance, the analyst tells investors in a research note. The firm sees Booking as having the best near-term financial visibility within online travel on nights growing high-single-digits and margins expanding from larger direct-traffic mix and optimizing overhead costs. Opco believes Booking will sustain its current multiple through consistent nights growth, margin expansion, and lower “Google risk.”