Street View: International travel to help Booking Holdings grow

Online travel agency Booking Holdings BKNG.O beat analysts' estimates for first-quarter profit and revenue as sustained demand for international travel helped offset weakness in the U.S. amid fears of a recession

Median PT of 40 brokerages covering the stock is $5,580 - data compiled by LSEG

GLOBAL FOOTPRINT HELPS INSULATE GROWTH

RBC Capital ("outperform," maintains PT at $5,900) says macroeconomics is clearly driving some softening and shift in U.S. travel but the impact to the company appears contained with its uniquely broad geographic exposure helping mitigate risks

Piper Sandler ("neutral," maintains PT at $5,077) sees co's global footprint to drive profit growth above the market as travel preferences are changing by country

Truist ("hold," maintains PT at $4,720) says, "We contend that investors should focus especially on travel trends in Europe and Asia over the U.S. as these markets may lag the U.S. if a weaker macro in the U.S. extends more broadly and globally"

BTIG ("buy," maintains PT at $5,500) says it's seeing pressure on inbound U.S., but co is agnostic to destination with demand shifting to other end markets