BTIG upgraded Booking Holdings (NASDAQ: BKNG) from Neutral to Buy, setting a price target of $5,500, as the firm sees a favorable setup heading into earnings season and growing confidence in the company’s long-term earnings trajectory.
The upgrade reflects several key catalysts, including stronger-than-expected Q1 tracking data, building visibility into a solid Q2, and foreign exchange tailwinds that could lift full-year results despite a mixed macroeconomic backdrop. BTIG said it is above Street estimates for the upcoming quarter and expects Booking to deliver a beat when it reports first-quarter 2025 results on April 30.
Consensus estimates call for Q1 EPS of $17.46 on revenue of $4.6 billion.
Beyond near-term performance, BTIG noted increased conviction in Booking’s ability to sustain mid-teens earnings growth over the long term. The firm also pointed to underappreciated growth opportunities in alternative accommodations and its Connected Trip initiative, which aims to provide a more integrated travel experience.
Recent stock underperformance, combined with around 20% price-to-earnings multiple discount relative to large-cap internet peers, creates what BTIG calls a tactical buying opportunity in a high-quality category leader.
Booking Holdings (NASDAQ: BKNG) currently has a consensus rating of Overweight, with an average price target of $5,701, implying a potential upside of 30.8% from current levels.
David Kirakosyan is a seasoned financial journalist with nearly a decade of hands-on experience in covering the U.S. stock markets. Since 2016, he has written thousands of equity news articles, detailed market analyses, and investment insights for trusted platforms like Benzinga, Investing.com, and StreetInsider. David holds a Master of Science in Finance and is a Level 2 CFA® candidate, reflecting his deep commitment to financial expertise and ethical standards. His reporting combines real-world market experience with a strong academic foundation, helping readers make informed decisions backed by reliable information. Read Full Bio
