Booking Holdings price target lowered to $249 from $260 at UBS

UBS lowered the firm’s price target on Booking Holdings (BKNG) to $249 from $260 and keeps a Buy rating on the shares. A Middle East travel disruption weighed on global demand in Q1, with direct exposure accounting for about 4% of room nights and additional indirect impacts from disrupted Europe-Asia travel corridors contributing another 3% headwind, alongside higher cancellations late in the quarter and into early Q2, the analyst tells investors in a research note. Despite this, U.S. room nights continued to strengthen, accelerating for a fourth consecutive quarter to roughly 13%, with expectations that cancellations have likely peaked and booking trends should stabilize and recover into 2H26, UBS says.