Citi Comments on Booking Holdings (BKNG.US) Q3 Results: Strong Travel Demand Drives Beat, Maintains "Buy" Rating

Zhitong Finance APP has learned that Booking Holdings (BKNG.US) delivered a better-than-expected third-quarter report: room nights, gross bookings, and adjusted EBITDA all exceeded market consensus. However, alongside the earnings beat, travel demand headwinds that persisted from the end of the third quarter into October weighed on fourth-quarter guidanceaccording to Citi's comparison, both the fourth-quarter room night and gross bookings guidance were below sell-side consensus, and the adjusted EBITDA growth guidance was only "roughly flat year-over-year." Citi reiterated its "Buy" rating on Booking Holdings with a price target of $236.