Booking Holdings (BKNG) PT Lowered to $6,000 at DA Davidson on AI-Related Uncertainty

DA Davidson analyst Tom White lowered the price target on Booking Holdings (NASDAQ: BKNG) to $6,000.00 (from $6,600.00) while maintaining a Buy rating.

The analyst commented, "We affirm our BUY on BKNG post strong 4Q results w/upside vs. guidance and cons. across all key line items. Room night growth accelerated again to +9% (above 4%-6% guide) on broad strength in all geos but particularly in Asia and U.S. (both up LDD Y/ Y; the latter accelerating on a tough comp driven by strength in paid channels and B2B). Comments on underlying travel demand resilience was encouraging, although U.S. ADRs and length of stay were down slightly...Nudging up estimates but trimming target slightly on AI-related uncertainty - Our 2026 GB and adj. EPS estimates increase 4% and 2% respectively. We trim our target from $6,600 to $6,000 (22.5x our 2026 adj. EPS, implying a PEG of 1.4)."

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