Fly News Breaks for February 27, 2020
Feb 27, 2020 | 07:28 EDT
Credit Suisse analyst Stephen Ju lowered the firm's price target on Booking Holdings to $2,260 from $2,330 and keeps an Outperform rating on the shares. Citing headwinds due to COVID-19, management offered initial Q1 guidance contemplating a range of year over year decline ranges for all of unit growth, FXN Gross Bookings, revenue, adjusted EBITDA, and EPS, the analyst notes. Ju is decreasing Q2 estimates as he chooses to assume virus-related headwinds will persist into early summer, but expects travel activity to rebound as stronger signals that the virus has been contained inevitably emerge.
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