UPDATE: Jefferies Upgrades Booking Holdings (BKNG) to Buy 'as Travel Rebounds in 2H21'
- Wall Street ends volatile week sharply higher
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
- Coinbase (COIN) To Add Dogecoin Trading in the Next Few Weeks
Jefferies analyst Brent Thill upgraded Booking Holdings (NASDAQ: BKNG) from Hold to Buy with a price target of $2,800.00 (from $2,300.00).
The analyst comments "We are upgrading BKNG to Buy and raising PT to $2,800. We like the story fundamentally and turn more positive as we see: 1) a meaningful inflection in global travel after a tough year; 2) bookings and revenue growth reaccelerating; 3) margins rebounding from pandemic levels (with potential upside from cost-cutting initiatives); and 4) relatively cheap stock that has underperformed other travel names, trading at ~15.5x cons '23 EBITDA against 2021-23 CAGR of 59%."
Shares of Booking Holdings closed at $2409.05 yesterday.
You May Also Be Interested In
- NICE Systems Ltd (NICE) Beat and Raise Driven by Strong Cloud Revenue, PT Cut to $300 at Jefferies But Reit Buy
- Quebecor (QBR-B:CN) (QBCRF) PT Raised to Cdn$40 at TD Securities
- Jefferies Sees Yeti Holdings Inc. (YETI) Upside to $131 After Earnings
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!