Seaport Research analyst Aaron Kessler initiated coverage of Booking Holdings with a Buy rating and $4,380 price target. The analyst is positive on Booking’s fundamentals saying the company is the clear leader in global online accommodations, with particular strength in Europe and Asia. The firm expects high single digit long-term bookings and revenue growth, driven by global travel growth, online share gains, expansion of alternative accommodations, and increasing traction with Connected Trip. Seaport expects continued EBITDA margin expansion for Booking Holdings due to strong organic traffic to its website and app.
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