Booking Holdings (BKNG) PT Raised to $6,250 at BTIG

BTIG analyst Jake Fuller raised the price target on Booking Holdings (NASDAQ: BKNG) to $6,250.00 (from $550.00) while maintaining a Buy rating.

The analyst comments "We went to a Buy on BKNG in early-April (first time in a decade+), but what are we thinking now with the stock since pushing past our initial PT and hitting an all-time high? We maintain a Buy rating, bring estimates up and take our PT from $5.5K to $6.25K. Highlights: 1. Our upgrade came on dislocation in the stock as the market was contending with tariff turmoil and widespread worry around macro conditions, but sentiment has since firmed with large-cap Internet growth stocks broadly back to highs (not just BKNG), 2. Meanwhile, our tracking shows a steady pickup in reservation volume with June so far growing at the fastest clip we've seen since late last year, which should put BKNG on track to top the 2Q guide, 3. We bring room night growth estimates up (2Q +2 pts, 2025 +1 pt) and that takes EPS for the year to $220 and pushes 2026 to $252, putting us ~2% above consensus estimates. Our $6.25K PT is based on a 2026 PE of 25x, putting valuation for BKNG in-line with the large-cap Internet growth average."

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