** Shares of online travel agency Booking Holdings BKNG.O rise ~1% to $4,492.27 premarket

** BTIG upgrades rating on BKNG to "buy" from "neutral" and maintains PT at $5,500, which represents a 23.6% upside to stock's last close

** Company's Q1 results will beat expectations on better room nights view and Q2 "looks promising", says brokerage

** BTIG also expects foreign exchange rates to positively impact full-year numbers, despite macroeconomic uncertainties

** "We've gained comfort in the durability of BKNG's mid-teens EPS growth algorithm, and looking ahead see under-appreciated opportunities as it continues to push in alternative accommodations and connected trip" - brokerage

** Six brokerages rate BKNG "strong buy", 22 "buy" and 13 "hold"; median PT is $5,660 - data compiled by LSEG

** As of last close, shares down 10.4% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))