Booking Holdings price target raised to $4,750 from $3,900 at Wedbush

Wedbush analyst Scott Devitt raised the firm’s price target on Booking Holdings (BKNG) to $4,750 from $3,900 and keeps an Outperform rating on the shares ahead of the October 30 earnings report. The firm thinks guidance for Q3 is conservative and is raising Q3 estimates for room night growth to 5.5% year over year given what it views as a relatively encouraging backdrop for Booking, the analyst tells investors in a research note. Wedbush notes that Booking’s management has a history of conservative guidance and expects further upside this quarter given strong alternative accommodation bookings in Europe and stable international hotel trends.