Booking Holdings price target lowered to $220 from $244 at RBC Capital

RBC Capital analyst Brad Erickson lowered the firm’s price target on Booking Holdings (BKNG) to $220 from $244 and keeps an Outperform rating on the shares after its Q1 results and guidance. The Middle East and the related adjacent regional travel impact drove a slightly bigger guide-down than expected but with the management sticking to its guns on products, marketing execution and long-term targets, the analyst tells investors in a research note. RBC adds, however, that while it is lowering its estimates, it sees the company remaining a long-term compounder with mid-teen EPS growth.