Fly News Breaks for February 27, 2020
Feb 27, 2020 | 05:07 EDT
Piper Sandler analyst Michael Olson lowered the firm's price target on Booking Holdings to $1,750 from $1,900 and keeps a Neutral rating on the shares. The company reported Q4 bookings, room nights and earnings ahead of the Street, largely due to favorable room night growth in Europe, but its Q1 guidance is well below consensus across all key metrics, Olson tells investors in a research note. The coronavirus is impacting global travel trends, which management indicated has already been detrimental to Q1 results to date and creates a high degree of uncertainty for the remainder of the quarter, adds the analyst.
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