BNP Paribas Exane Starts Booking Holdings at Outperform With $6,100 Target

Group 1 - BNP Paribas Exane initiated coverage on Booking Holdings with an Outperform rating and a $6,100 price target [1] - Booking's industry-leading margin profile and extensive user base position the company for continued investment in international expansion, U.S. market share initiatives, alternative accommodations, and artificial intelligence technologies [1] - Despite elevated investment levels, Booking is expected to grow both market share and earnings according to BNP Paribas [1] Group 2 - The brokerage projected Booking's share of global travel and accommodation (excluding China) to reach 4.1% by 2027, up from 3.6% in 2024 [2] - This projection supports the bullish valuation case for Booking Holdings [2]