Booking Holdings price target raised to $3,130 from $2,960 at Barclays

Barclays analyst Mario Lu raised the firm’s price target on Booking Holdings to $3,130 from $2,960 and keeps an Overweight rating on the shares. Barclays credit card data in the U.S. shows leisure lodging spending improved in May and June from the lows of April versus 2019, further showing stabilization in the second half of June, the analyst tells investors in a research note. Given macro uncertainty in the second half of 2023 after a local peak in Q1, the firm prefers to “stay defensive” with Booking (BKNG) heading into the Q2 prints for online travel.