
Shares of online travel agency Booking Holdings BKNG.O rise ~1% to $4,492.27 premarket
BTIG upgrades rating on BKNG to "buy" from "neutral" and maintains PT at $5,500, which represents a 23.6% upside to stock's last close
Company's Q1 results will beat expectations on better room nights view and Q2 "looks promising", says brokerage
BTIG also expects foreign exchange rates to positively impact full-year numbers, despite macroeconomic uncertainties
"We've gained comfort in the durability of BKNG's mid-teens EPS growth algorithm, and looking ahead see under-appreciated opportunities as it continues to push in alternative accommodations and connected trip" - brokerage
Six brokerages rate BKNG "strong buy", 22 "buy" and 13 "hold"; median PT is $5,660 - data compiled by LSEG
As of last close, shares down 10.4% YTD