Citizens downgrades Booking Holdings stock rating on AI risks and growth concerns
Citizens has downgraded Booking Holdings (NASDAQ:BKNG) from Market Outperform to Market Perform due to limited near-term growth catalysts and potential structural risks from artificial intelligence. The firm is concerned that AI could transform the online travel agency model, pushing Booking Holdings further down the value chain, despite the company's strong gross profit margins and revenue growth. Other recent developments include strong Q3 results, varying analyst price targets, and leadership changes at KAYAK.
https://www.investing.com/news/analyst-ratings/citizens-downgrades-booking-holdings-stock-rating-on-ai-risks-and-growth-concerns-93CH-4483766