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Fly News Breaks for February 27, 2020
BKNG
Feb 27, 2020 | 09:25 EDT
Needham analyst Brad Erickson lowered the firm's price target on Booking Holdings to $2,000 from $2,200 but keeps a Buy rating on the shares. The analyst notes that while the company beat on Q4 earnings, its Q1 guidance was well below consensus as the impact of coronavirus is set to bring the Street consensus estimates down further. Though still "clearly not out of the woods" on the outbreak, Erickson does believe that travel demand will return and that Booking Holdings will capture "more than its fair share".
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