Booking Holdings price target raised to $5,630 from $4,720 at Truist

Truist raised the firm’s price target on Booking Holdings (BKNG) to $5,630 from $4,720 and keeps a Hold rating on the shares. Based on intra-quarter trends, the firm is raising its FY25 adjusted EBITDA view to $9.3B from $8.9B while noting that its price target change reflects reduced macro risks and a generally decent leisure backdrop, the analyst tells investors in a research note. Truist adds that it is incrementally enthusiastic on Booking’s Asia exposure both for short- and long-term earnings growth.