Wedbush trims online travel firms' price target on AI risk concerns

Booking Holdings

06/02/2026 14:29

** Wedbush lowers price targets on online travel companies on risks from exposure to AI-enabled disintermediation

** Brokerage says while booking windows have started to extend and consumers are reporting longer lengths of stay, AI could hurt long-term business for intermediaries like Airbnb ABNB.O, Booking Holdings BKNG.O, Expedia Group EXPE.O and Tripadvisor TRIP.O

** Adds that Expedia is most exposed to disintermediation given the company's relative exposure to a concentrated supply of hotel and accommodation chains

** Says it expects Airbnb to be the least exposed to displacement given co's fragmentation of its host and supply base

** Wedbush says it is most positive on BKNG as co's geographic diversification limits exposure to pockets of softness or a weaker consumer

** Following are the new PTs:

Company
New PT
Old PT
Airbnb ABNB.O
$130
$135
Tripadvisor TRIP.O
$15
$18
Booking Holdings BKNG.O
$5500
$6000
Expedia EXPE.O
$260
$290

 (Reporting by Parth Chandna)

 ((Parth.Chandna@thomsonreuters.com;))