-- Booking (BKNG) is offering a compelling entry point for patient investors as focus shifts back to fundamentals amid geopolitical tensions, Oppenheimer said, with analysts highlighting attractive valuation and resilient travel demand supporting the outlook.
The brokerage said in a Sunday note that shares have underperformed peers since the Iran conflict, reflecting higher Middle East exposure and Asia/Europe sensitivity to oil supply.
Oppenheimer said airline commentary and third-party traffic checks suggest solid underlying demand, pointing to upside versus Q1 nights guidance of more than 7%. However, geopolitical tensions could still weigh on the outlook relative to underlying trends.
Booking has also outperformed the S&P since OpenAI paused retail instant checkout, supporting the view that large travel platforms remain central in the evolving AI-driven travel ecosystem, according to the note.
The company is scheduled to report its Q1 results Tuesday after market close.
Oppenheimer maintained its outperform rating on the stock with a price target of $240.
Price: $179.23, Change: $-1.05, Percent Change: -0.58%