3 Reasons Why This Booking Holdings Analyst Is Bullish

Booking Holdings Inc BKNG has been actively testing and implementing AI-based solutions for travelers.

The company was likely to continue delivering a “solid performance” despite tough comps after two robust years of travel, according to Seaport Research Partners.

The Booking Holdings Analyst: Aaron Kessler initiated coverage of Booking Holdings with a Buy rating and a price target of $4,380.

3 Reasons To Be Bullish on Booking Holdings: 

1. The company established itself as a global leader in online accommodation reservations, with “particular strength” in Europe and Asia, and seems poised for around 10% bookings growth in 2024 and about 9% in 2025, Kessler said in the initiation note.

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2. Booking Holdings has been focusing on increasing the supply of alternative accommodations on Booking.com and raising awareness among travelers, the analyst stated. The company has “ambitions to expand more aggressively in the U.S. for alternative accommodations, and we expect to hear more on this in 2024,” he added.

3. Booking Holdings could continue to deliver EBITDA margin expansion “driven by strong organic traffic to its website and app,” Kessler further wrote.

BKNG Price Action: Shares of Booking Holdings had declined by 0.13% to $3,711.91 at the time of publication Tuesday.

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