Optimistic Outlook for Booking Holdings: A Strong Buy Rating Backed by Positive Industry Trends and

In a report released yesterday, Mark Mahaney from Evercore ISI maintained a Buy rating on Booking Holdings (BKNG – Research Report), with a price target of $4,500.00.

Mark Mahaney has given his Buy rating due to a combination of factors that underscore the positive outlook for Booking Holdings. According to Mahaney, the company is expected to exceed expectations in the upcoming quarterly report, with metrics such as Bookings, Room Nights, Revenue, and EBITDA aligning with or surpassing the Street’s projections. The anticipation of a “Beat & Bracket” quarter is supported by extensive industry data and model sensitivity analyses. Moreover, insights from Booking Holdings’ participation in the recent Evercore ISI ‘Nothing But ‘Net Internet Summit’ also contributed to this optimistic perspective.
Additionally, the travel industry’s robust demand, with no significant signs of consumer trade-downs, reinforces the company’s strong position. Data points from several sources, including the Evercore ISI Airlines Research Team, OTA web traffic, and hotel occupancy rates, have remained consistent with previous years, indicating sustained confidence in the travel sector. Mahaney’s discussion with Booking Holdings’ CFO at the ‘Nothing But ‘Net Summit’ further bolstered the rating, with management’s positive outlook on long-term travel trends and expected marketing leverage gains. These elements collectively justify Mahaney’s Buy rating, as they point to a company well-positioned for growth in a thriving market.

In another report released on July 12, B.Riley Financial also maintained a Buy rating on the stock with a $4,900.00 price target.

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Booking Holdings (BKNG) Company Description:

Founded in 1997 and based in Connecticut, Booking Holdings, Inc. provides an online platform for making travel and restaurant reservations. The company offers its services through the following brands: Booking.com, KAYAK, Priceline, Agoda, Rentalcars.com, and OpenTable.

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