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.
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