DA Davidson and TD Cowen Cut Booking Holdings (BKNG) Price Targets

Booking Holdings Inc. (NASDAQ:BKNG) is one of the 12 Best Revenue Growth Stocks to Buy According to Wall Street Analysts. On April 29, DA Davidson reduced its price target on Booking Holdings Inc. (NASDAQ:BKNG) from $240 to $230 and maintained its Buy rating on the stock after the company reported its Q1 results.

The research firm pointed to the impact of the conflict in the Middle East, which flared up during the later part of the quarter and impacted Middle East inbound and outbound travel. However, Booking Holdings Inc. (NASDAQ:BKNG) still delivered generally solid quarterly results. DA Davidson noted that, outside of the Middle East-related challenges, the company has not yet seen broader weakness in global travel demand linked to the conflict.

DA Davidson and TD Cowen Cut Booking Holdings (BKNG) Price Targets

On the same day, TD Cowen analyst Kevin Kopelman cut the firm’s price target on Booking Holdings Inc. (NASDAQ:BKNG) from $240 to $230 and kept a Buy rating on the stock.

The firm noted that the company’s results missed because of the impact of the Iran conflict, including disruptions in travel between Europe and the Asia-Pacific region. The analyst noted that Booking Holdings Inc.’s (NASDAQ:BKNG) guidance assumes there will be no improvement in travel trends during May and June. Despite this, TD Cowen believes that the travel demand is solid in other areas, with accelerating trends in the US and stable demand within Europe and the Asia-Pacific region.

Booking Holdings Inc. (NASDAQ:BKNG) is a leading global travel technology company that provides online travel and related services.

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