Expedia Faces Uphill Battle To Reclaim Market Share Amid Booking And Airbnb Surge, Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
Wedbush analyst Scott Devitt has given a positive outlook on Booking Holdings Inc. (BKNG), raising its price target due to its global leadership in the OTA market, efficient marketing, and a strategy aimed at EPS growth. Booking is expected to face tougher comparisons in 2024 after outperforming peers in 2023. Airbnb Inc. (ABNB) maintains a Neutral rating with a stable price target, as it faces increased competition in alternative accommodations. Expedia Group Inc. (EXPE) also holds a Neutral rating, with a raised price target, but is expected to struggle in regaining market share due to the growth of competitors like Booking and Airbnb.
December 27, 2023 | 7:07 pm
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POSITIVE IMPACT
Booking Holdings Inc. received a Buy rating and a raised price target from $3,300 to $3,850 by Wedbush analyst Scott Devitt, highlighting its global OTA leadership and efficient marketing.
The raised price target and positive comments on Booking's market position and strategy suggest a bullish short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
Airbnb Inc. maintains a Neutral rating with a price target of $135, as it faces growing competition in the alternative accommodations market, which may limit future growth.
The maintained Neutral rating and the recognition of increased competition suggest a neutral short-term impact on Airbnb's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Expedia Group Inc. has a Neutral rating with a raised price target from $115 to $130, but may struggle to regain market share due to the growth of Booking and Airbnb.
Despite the raised price target, the analyst's view that Expedia will face difficulties in regaining market share indicates a neutral short-term impact.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80