Booking Holdings price target lowered to $5,590 from $5,660 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Booking Holdings (BKNG) to $5,590 from $5,660 and keeps a Neutral rating on the shares. Third quarter results for the online travel agency group are expected to be roughly in line or slightly above consensus on bookings and EBITDA, with travel demand remaining mixed but showing improvement in select markets like the U.S., the analyst tells investors in a research note. The firm expects Booking’s Q3 gross bookings and room nights to be above the high end of its prior guidance of 6% and 5.5%, respectively.