Truist upgraded Booking Holdings (BKNG) to Buy from Hold with a price target of $5,750, up from $5,630. The firm cites Asia’s long-term travel outlook, “steady” global GDP growth, and the stock’s more attractive valuation for the upgrade. Investors are overly concerned with Booking’s potential downside risks from emerging artificial intelligence platforms, the analyst tells investors in a research note. Truist sees “several avenues of near- and long-term earnings growth” for Booking following the recent downtrend in the stock.
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