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Booking Holdings downgraded to Hold from Buy at Erste Group on Friday

Booking Holdings downgraded to Hold from Buy at Erste Group on Friday

Erste Group analyst Hans Engel on Friday downgraded Booking Holdings (BKNG) to Hold from Buy. Booking’s global diversification, broad product portfolio, and strong technology with a focus on AI are “impressive,” but the already significant decline in U.S. consumer confidence is having a negative impact on further earnings growth, the analyst tells investors in a research note. The firm forecasts only moderate upside potential for the stock.

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