Analyst Kevin Kopelman of TD Cowen maintained a Buy rating on Booking Holdings (BKNG – Research Report), reducing the price target to $6,000.00.
Kevin Kopelman’s rating is based on several compelling factors that position Booking Holdings favorably in the market. One significant aspect is the depreciation of the USD by 7.5% since the Q4 call, which benefits Booking Holdings due to its substantial international exposure of approximately 85%. This currency movement is expected to counterbalance any minor slowdown in their top-line performance. Additionally, the company’s ex-FX trends are currently tracking above the 2025 guidance, suggesting that Booking Holdings is performing better than anticipated despite a conservative outlook.
Furthermore, Booking Holdings stands out as the only major online travel agency with advertising cost leverage, contributing to its high margins, which are the highest in its peer group. In the event of a recession, Booking Holdings is well-positioned to maintain its market leadership due to its superior margins and ongoing cost efficiency initiatives. These strategic advantages, coupled with a raised EPS forecast driven by favorable foreign exchange movements and share repurchases, underpin Kevin Kopelman’s Buy rating, with a price target of $6000.
In another report released on April 21, Melius Research also maintained a Buy rating on the stock with a $5,300.00 price target.