B. Riley last night initiated coverage of Booking Holdings with a Buy rating and $4,400 price target. The firm’s positive view on the stock is supported by the company’s prospects for sustained above-market growth rates, margin expansion, and efficient capital allocation, with a sizable share buyback contributing to earnings growth. The analyst believes Booking’s “best-of-breed” selection and expanding product offering, large audience, global reach, and growing mix of direct traffic are key competitive advantages that will enable the company to sustain healthy growth rates and share gains for the foreseeable future. It finds the stock’s risk/reward profile as attractive.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKNG:
- Airbnb Stock (NASDAQ:ABNB): Cash-Printing Machine for the Long Term
- Italian Competition Authority opens investigation into Booking
- Zillow, Redfin drop after realtor group agrees to cut commissions
- Booking Holdings downgraded to Hold from Buy at Erste Group
- Booking Holdings, Peerspace form new partnership