BTIG analyst Jake Fuller has maintained their neutral stance on BKNG stock, giving a Hold rating on March 17.
Jake Fuller has given his Hold rating due to a combination of factors that influence Booking Holdings’ current market position. He notes that while the company’s first-quarter estimates have been raised based on strong demand data and a lack of macroeconomic pressure, there is still potential for a US economic slowdown. Despite this, Booking Holdings is seen as relatively well-positioned compared to its peers due to its limited exposure to the US market and its ability to adjust marketing expenses to protect margins.
Additionally, Jake Fuller highlights the company’s long-term growth prospects, driven by its expansion into alternative accommodations, the Connected Trip initiative, and increased payment revenue from merchant bookings. However, despite these positive growth drivers, the stock is currently trading at the higher end of its historical price-to-earnings…
