Booking Holdings price target raised to $6,100 from $5,400 at JMP Securities

JMP Securities raised the firm’s price target on Booking Holdings (BKNG) to $6,100 from $5,400 and keeps an Outperform rating on the shares. While the consumer environment remains challenging, improving consumer confidence toward the end of the year suggests some stabilization, and in travel, moderating trends are unsurprising, though overall trends appear to have reverted to pre-pandemic trajectories, the analyst tells investors in a research note. The firm likes Booking given robust travel demand, its dominant international presence, share gains in the U.S. and in alternative accommodations, and strong free cash flow margins.