Wedbush lowered the firm’s price target on Booking Holdings (BKNG) to $5,500 from $6,000 and keeps an Outperform rating on the shares. The firm notes Booking reported strong Q3 results and offered healthy Q4 guidance versus initial expectations. The company remains the best-positioned OTA, in Wedbush’s view, given the company’s global scale and diversification, strong liquidity and free cash flow conversion, and track record of successful execution across key strategic initiatives.
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