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Wedbush Upgrades Booking Holdings (BKNG) Amid Strong Travel Demand

Wedbush Upgrades Booking Holdings (BKNG) Amid Strong Travel Demand

Author:

Global Cryptocurrency

Published:

2025-11-13 23:48:03

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BTCCSquare news:

Booking Holdings (BKNG) surged on robust Q3 results, defying broader market sluggishness. Wedbush analyst Scott Devitt upgraded the stock to Buy with a $6,000 target, citing healthier-than-expected global travel demand and the company's dominant position in alternative lodging.

The online travel giant beat across key metrics, with room night growth projections revised upward by 90 basis points to 7.2%. Despite trading 10% below August highs, BKNG's 17.6x 2027 GAAP P/E multiple sits at the low end of its historical range—a valuation gap Devitt calls unwarranted given 11.5% projected gross bookings growth.

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