Booking Holdings price target raised to $5,560 from $5,550 at UBS

UBS raised the firm’s price target on Booking Holdings (BKNG) to $5,560 from $5,550 and keeps a Buy rating on the shares. While UBS sees the potential for upside on the fourth quarter result across the major online travel players, the firm is pricing in foreign exchange headwinds into its forecasts given the strengthening U.S. dollar vs global currencies, which should result in what amounts to a 2%-3% headwind to gross bookings and revenue growth on a reported basis for 2025, but this is largely priced in already, the analyst tells investors in a research note. UBS continues to favor Booking as its top pick in the sector.