Truist Securities Reiterates Buy Rating on Booking Holdings (BKNG)

Truist Securities analyst Greg Miller reiterated a Buy rating and $242.00 price target on Booking Holdings (NASDAQ: BKNG).

The analyst commented: "Resilient global traveler the key. 2Q revenueled beat; 3Q guide light; Bottom line: 2Q was a fine print in our view given the challenging backdrop in the Middle East and the European and Asian travel markets' proximity to the region. Similar to our pre-earnings expectations, BKNG spoke to a largely resilient traveler globally. Despite the macro headwinds, 2Q top-line and EPS results were in-line to the long-term 8/8/15 growth algorithm and would have been better if not for the conflict. Helping out the 15% EPS growth is another quarter of significant share repurchases. Other positives include annual run-rate savings from the Transformational Program rising to $650M (+ $100M, realized by YE27), continued growth of EBITDA margins (up 60 bps y/y), and overall travel share gains."

For an analyst ratings summary and ratings history on Booking Holdings click here. For more ratings news on Booking Holdings click here.

Shares of Booking Holdings closed at $194.27 yesterday.

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