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Booking Holdings Middle East Impact Seen Easing From March Levels, RBC Says

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-- Booking Holdings' (BKNG) Middle East impact appears to have peaked in March, with RBC Capital Markets saying that the hit was likely the worst of it, though near-term guidance remains pressured.

The brokerage said in a Wednesday note that the travel disruption in the Middle East and adjacent regions drove a slightly larger-than-expected cut to guidance due to elevated cancellations and weaker bookings weighed on March performance.

RBC noted that management maintained its focus on product execution, marketing efficiency and long-term targets despite the near-term softness.

The firm said Q1 showed mixed trends. The strength outside the Middle East was offset by regional weakness, while AI-driven efficiency gains and marketing leverage ex-ME remained supportive. The brokerage lowered its 2026 gross bookings and revenue estimates by 1.2% and 2.5%, respectively.

RBC has an outperform rating on the stock and lowered its price target to $220 from $244.

Price: $172.29, Change: $-1.03, Percent Change: -0.59%

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