Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan presented an update on his favorite long idea on the August 13thedition of The Macro Show, calling Booking.com (BKNG) a “great long-term story.”
“We’re seeing a transition from those aggressive internet and media investors who are looking for accelerating topline ‘hyper-growth’ to more growth at a reasonable price, cash flow and more traditional valuation,” Jordan explains in the clip above.
“The addressable market is a lot bigger than people think.
We like their competitive positioning. Europe is actually a good place to be for an OTA [online travel agency]. I think they are the best-positioned in a region that really needs OTA’s, and that’s Asia.”
Watch the full clip for more on why BKNG is his favorite stock in his sector.