Booking Holdings stock gains after Deutsche bank upgrade

02/05/19 10:51 AM EST

Shares of Booking Holdings Inc. (BKNG) are up 2.7% in morning trading Tuesday after Deutsche Bank analyst Lloyd Walmsley upgraded the stock to buy from hold. He expects that the company can accelerate its room-night growth this year due to marketing enhancements. "We have been cautious on issues including maturation of online leisure penetration, Google Travel, and competition, but much of this risk now seems fully understood by investors and a re-acceleration could help mute this overhang in the near-term," Walmsley wrote. He raised his target price on the stock to $2,370 from $2,150. Shares of Booking Holdings, formerly known as Priceline Group, are up 2.3% over the past three months, as the S&P 500 has dropped 0.1%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

 

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02-05-19 1051ET

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