Wedbush raises PT for online travel platforms

Columbia Banking System

27/12/2023 13:32

** Brokerage Wedbush lifts price target of online travel
platforms - Booking Holdings  BKNG.O  lifted to $3850 from
$3300; Expedia Group Inc  EXPE.O  raised by $15 at $130 
    ** Wedbush says "material reversion" hasn't occurred in
leisure travel demand as consumer preferences for services over
goods continues 
    ** It also expects consumer internet platforms to remain
well-positioned with rising margins and improving industry
growth for 2024 
     ** New PT represents a 15% downside to the EXPE stock's
last close, ~8% upside to BKNG's Tuesday close
    ** So far this year, BKNG rose 77%, and EXPE gained 75% 

 (Reporting by Pratyush Thakur)
 ((Pratyush.Thakur@thomsonreuters.com))