Booking Holdings price target lowered to $215 from $240 at Oppenheimer

Oppenheimer analyst Jed Kelly lowered the firm’s price target on Booking Holdings (BKNG) to $215 from $240 and keeps an Outperform rating on the shares. The firm notes the company guided Q2 nights at 2%-4% year-over-year, but reiterated its second half of the year outlook on travel gradually normalizing. Top-end of full year EPS guide still implies mid-teens growth, highlighting ability to quickly flex costs around sharp disruptions, while Q1 U.S. nights accelerated to low-teens from higher direct traffic, with broad-based strength across income levels.