Wells Fargo analyst Ken Gawrelski lowered the firm’s price target on Booking Holdings (BKNG) to $4,470 from $4,657 and keeps an Equal Weight rating on the shares. Despite material FX headwinds, the firm sees underlying performance as quite healthy. Wells expects management to leave open the door to investing for incremental growth with FY25 margin commentary. Further, the firm sees AI agent developments as likely an increasing part of stock narrative.
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