As previously reported, BofA upgraded Booking Holdings (BKNG) to Buy from Neutral with an unchanged price target of $6,000. The firm believes concerns about disintermediation risks to Booking from Google (GOOGL) and OpenAI’s Agentic tools are “overdone” and sees AI-related selloff in shares as one that creates a buying opportunity, the analyst tells investors. The firm thinks Booking is well positioned with suppliers with less than 10% large chain hotel exposure and can mitigate AI risks by leveraging proprietary user data, supplier relationships and Genius loyalty benefits to build competitive agentic AI capabilities, the analyst added.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKNG:
- Booking Holdings upgraded to Buy from Neutral at BofA
- AI Daily: Microsoft, Nvidia to invest in Anthropic
- BKNG, EXPE, ABNB: Analysts Say Google-Inspired Online Travel Stock Selloff Overblown
- Online travel selloff overestimates AI disruption risk, says KeyBanc
- AI Daily: Google launches new AI search features to plan travel