Wells Fargo analyst Ken Gawrelski lowered the firm’s price target on Booking Holdings (BKNG) to $5,377 from $5,456 and keeps an Equal Weight rating on the shares. The firm expects a more cautious tone from Booking as the Middle East conflict disrupts not just the region but also European bookings. In a dynamic macro environment, Wells projects the company guides Q2 conservatively and likely trims the full-year top-line guide.
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