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Booking Holdings ($BKNG)- Work Horse, Not Showpony


Summary

BKNG has so far lagged behind its online travel peers this year despite several strengths we see potentially leading to price appreciation as travel recovers.BKNG has a much more significant portion of International revenue, with as much as 90% of revenue coming from outside the US. This will prove an asset as 2021 progresses.The company has maintained costs and operated extra lean to get through the pandemic but should return higher growth as travel occupies a disproportionately...

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