Tigress Financial Partners analysts raised Booking Holdings (NASDAQ:BKNG) price target to $4,285.00, maintaining a Strong Buy rating. The analysts highlighted Booking’s advantageous position in the travel and entertainment sector and its effective use of generative AI to drive revenue growth. They noted the company’s significant increases in various revenue streams, including a 21% year-over-year rise in total revenues to $7.3 billion in Q3.
The report also showed substantial growth in gross travel bookings and a strong performance in room nights, rental car days, and airline tickets. Booking Holdings has also launched an AI Trip Planner, utilizing ChatGPT and OpenAI’s technology, enhancing its travel planning services.
The analysts commended the company’s market leadership, technological advancements, and strategic acquisitions, which contribute to growing shareholder value. They anticipate a potential return of over 20% from the current levels with the new price target.