BUZZ-Truist trims online travel agencies PTs on geopolitical risks

Reuters20:32

** Truist cuts PTs on online travel agencies (OTAs) Booking Holdings BKNG.O and Expedia Group EXPE.O

** Says it is modestly cutting estimates and valuations due to uncertainty from the Iran conflict, softer travel demand visibility and cautious investor sentiment

** Says it prefers BKNG for its global and Asia exposure but sees higher geopolitical risk there

** Adds leisure travel could tilt more toward domestic or regional trips as travelers manage costs and avoid conflict-affected areas

** Says EXPE could benefit more near-term from strong U.S.-focused summer travel demand

** As of last close, EXPE down 20.5% YTD

Company	New PT	Old PT	Upside to stock's last close
Booking Holdings	$5,780	$5,810	37.8%
Expedia Group	$246	$252	9.2%

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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