RESEARCH NOTES
Fundamental Research & Valuation
Assetreal Research Notes present independent company analysis, key operating and competitive findings, and Bear, Base and Bull valuation scenarios where applicable.
Booking Holdings Inc.: Platform Economics, Competitive Durability and the Valuation of Growth
NASDAQ: BKNG · Travel & Leisure · Online Travel
A fundamental assessment of Booking Holdings examining its business economics, competitive position, reinvestment requirements, economic returns, capital allocation and valuation under alternative scenarios.
Bear $112 · Base $158 · Bull $202