Booking Holdings (BKNG) PT Raised to $240 at DA Davidson

DA Davidson analyst Tom White raised the price target on Booking Holdings (NASDAQ: BKNG) to $240.00 (from $230.00) while maintaining a Buy rating.

The analyst comments "Remain BUY; Bumping up PT as Hotel biz + buybacks offset Air softness - Underlying demand remained resilient in 2Q, although consumers shifted away from long-haul travel/flights in favor of domestic/intra-regional trips. FX-neutral ADRs increased ~2% Y/Y, demonstrating continued pricing strength, primarily driven by Europe and the U.S. Globally, BKNG saw a modest contraction in booking windows and length of stay in 2Q, though both began to normalize in June. Notably, in Europe, BKNG's largest region, both metrics were flat in 2Q. Outside of the macro, the opportunities/risks posed by AI as well as BKNG's momentum in the U.S. market remain the key talking points. Our topline and adj. EBITDA ests decline by ~1% on softer Air trends, but our adj. EPS increases ~1% on stronger buybacks. Our PT nudges up from $230 to $240 (23x '26 adj. EPS)."

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