In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Booking Holdings Inc (BKNG), with a price target of $2150. The company’s shares closed yesterday at $1867.74.
Khan observed:
“We expect 2Q RNG to be slightly above Street expectations but to remain impacted by a weak European macro and moderation in global growth. Within Europe, we view slowing economic growth in Germany and Italy as modest negatives and see marginal benefit from extended Brexit deadline. Given the cloudy macro picture, we expect greater European traveler flows to lower cost destinations, contributing to ADR decline. While the macro is likely to remain a NT overhang on growth, at ~12x in buyback authorization and a sticky offering, we find the risk/reward attractive for LT holders.”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 22.3% and a 75.3% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and trivago NV.
Currently, the analyst consensus on Booking Holdings Inc is a Moderate Buy with an average price target of $2084.92, which is an 11.6% upside from current levels. In a report issued on July 16, Barclays also maintained a Buy rating on the stock with a $2080 price target.
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The company has a one-year high of $2131.90 and a one-year low of $1606.27. Currently, Booking Holdings Inc has an average volume of 396.9K.
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Booking Holdings, Inc. is an online travel company, which provides travel and related services. It offers accommodation reservations including hotels, hostels, apartments, vacation rentals and other properties. The company provides services through Booking.com, priceline.com, agoda.com, KAYAK, rentalcars.com and OpenTable brands.
