Deutsche Bank Is Bullish On These Travel Agencies - Read Why

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  • Deutsche Bank analyst Lee Horowitz initiated coverage of Booking Holdings Inc BKNG with a Buy rating and $2,512 price target, implying a 23.72% upside.
  • The analyst predicts leisure travel demand in the 2022/2023 period will surpass 2019 levels on account of the rising savings rates and consumer demand.
  • Lee Horowitz initiated coverage of Expedia Group Inc EXPE with a Buy rating and $218 price target, implying a 21.85% upside.
  • Horowitz is confident that Expedia will beat bookings and revenue estimates if global leisure accommodations bookings are conservatively up high single digits in FY22 versus the FY19.
  • The analyst also initiated coverage of Airbnb Inc ABNB with a Hold rating and $150 price target, implying a 1.19% downside.
  • Price Action: BKNG shares closed lower by 0.25% at $2,030.36 on Thursday.
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