Airbnb, Booking get 'buy' ratings from Rosenblatt; Expedia rated 'neutral'

Airbnb

01/09/2026 14:16

** Rosenblatt initiates coverage on vacation-rental firm Airbnb ABNB.O and online travel agency (OTA) Booking Holdings BKNG.O with "buy" rating
** Brokerage sees ABNB's investment overhang easing as new business initiatives begin producing measurable results; PT at $220, implying a 20% upside to stock's last close
** "BKNG remains the best positioned OTA globally," brokerage says citing scale, diversification, strong liquidity and FCF conversion
** Says market discounting BKNG shares for AI disintermediation is "overdone"; PT at $245 marking a 23% upside 
** Worries about AI agents taking over booking process have pressures OTA shares
** Also starts Expedia Group EXPE.O at "neutral"; PT at $360, a 13.5% upside
** Expects EXPE to benefit from domestic travel trends but flags U.S. consumer concentration, scale gap and moderate exposure to AI risk
** As of last close ABNB up 37.8%, EXPE up 14.6%, while BKNG down 6.5% YTD

Online travel firms have outperformed the broader S&P 500 benchmark over the past six months https://tmsnrt.rs/4gKD8B9
 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))