JPMorgan analyst Doug Anmuth raised the firm’s price target on Booking Holdings (BKNG) to $6,000 from $5,360 and keeps an Overweight rating on the shares. The firm cut estimates and multiples for the vast majority of its internet coverage post President Trump’s “Liberation Day,” but now reversed some of the number cuts following the better than expected Q1 earnings and outlooks. JPMorgan revised multiples higher for select names to reflect lower recession risk, which is no longer the firm’s base case, company specific outperformance, and China tariff relief for companies with direct exposure.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKNG:
- Airbnb quarter-to-date checks point to moderation in trends, says BTIG
- Booking Holdings’ Q2 trends improving slightly, says BTIG
- Lone Pine buys Capital One, cuts Block in Q1
- ABNB, BKNG, and MAR: Which Travel Giant Deserves a Spot in Investor Portfolios?
- BKNG, MAR, or DAL: Which Travel Stock Is the Most Attractive Pick?