BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom

Reuters03-11

** Bernstein cuts price target on online travel agencies (OTAs) Booking Holdings BKNG.O and Expedia EXPE.O

** Brokerage notes OTAs ended 2025 strongly, beating revenue and profit expectations and growing their market share across the year

** Says, however, worries about how AI might change the way people search for and book travel have weighed on their share prices

** Bernstein notes while AI remains a meaningful risk, OTA shares are now approaching 'AI disruption' scenario floors; combined with strong earnings momentum, the risk‑reward profile appears more balanced

** As of last close, both BKNG and EXPE were down more than 18% YTD

Company	New PT	Old PT
Booking Holdings	$4698	$5407
Expedia	$253	$256

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2618941057?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-11 19:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2618941057","market":"nz","top_or_hot":-1,"title":"BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom  </title></head><body><p>** Bernstein cuts price target on online travel agencies (OTAs) <a href=\"https://laohu8.com/S/BKNG\">Booking Holdings</a> <span>BKNG.O</span> and <a href=\"https://laohu8.com/S/EXPE\">Expedia</a> <span>EXPE.O</span> </p><p>** Brokerage notes OTAs ended 2025 strongly, beating revenue and profit expectations and growing their market share across the year</p><p>** Says, however, worries about how AI might change the way people search for and book travel have weighed on their share prices</p><p>** Bernstein notes while AI remains a meaningful risk, OTA shares are now approaching 'AI disruption' scenario floors; combined with strong earnings momentum, the risk‑reward profile appears more balanced</p><p>** As of last close, both BKNG and EXPE were down more than 18% YTD </p><table><tbody><tr><td><p>Company</p></td><td><p>New PT</p></td><td><p>Old PT</p></td></tr><tr><td><p>Booking Holdings </p></td><td><p>$4698 </p></td><td><p>$5407</p></td></tr><tr><td><p>Expedia</p></td><td><p>$253</p></td><td><p>$256</p></td></tr></tbody></table><p> (Reporting by Megavarshini G. Somasundaram in Bengaluru)</p><p> ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-03-11 19:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom  </title></head><body><p>** Bernstein cuts price target on online travel agencies (OTAs) <a href=\"https://laohu8.com/S/BKNG\">Booking Holdings</a> <span>BKNG.O</span> and <a href=\"https://laohu8.com/S/EXPE\">Expedia</a> <span>EXPE.O</span> </p><p>** Brokerage notes OTAs ended 2025 strongly, beating revenue and profit expectations and growing their market share across the year</p><p>** Says, however, worries about how AI might change the way people search for and book travel have weighed on their share prices</p><p>** Bernstein notes while AI remains a meaningful risk, OTA shares are now approaching 'AI disruption' scenario floors; combined with strong earnings momentum, the risk‑reward profile appears more balanced</p><p>** As of last close, both BKNG and EXPE were down more than 18% YTD </p><table><tbody><tr><td><p>Company</p></td><td><p>New PT</p></td><td><p>Old PT</p></td></tr><tr><td><p>Booking Holdings </p></td><td><p>$4698 </p></td><td><p>$5407</p></td></tr><tr><td><p>Expedia</p></td><td><p>$253</p></td><td><p>$256</p></td></tr></tbody></table><p> (Reporting by Megavarshini G. Somasundaram in Bengaluru)</p><p> ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1043141396.HKD","symbol_name":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260311:nL4N3ZZ113:1","article_id":"2618941057","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2618941057","pubTimestamp":1773229234,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom** Bernstein cuts price target on online travel agencies (OTAs) Booking Holdings BKNG.O and Expedia EXPE.O ** Brokerage notes OTAs end","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1043141396.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0823411888.USD":"法巴消费创新基金 Cap","BK4548":"巴美列捷福持仓","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU1043141123.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) INC 2","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4585":"ETF&股票定投概念","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","LU1121112475.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USDHDG) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","BKNG":"Booking Holdings","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0557290698.USD":"施罗德环球可持续增长基金","LU0994945656.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) INC 2","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4534":"瑞士信贷持仓","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","BKNU":"T-Rex 2X Long BKNG Daily Target ETF","BK4588":"碎股","LU0426412945.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) ACC","BK4142":"酒店、度假村与豪华游轮","BK4561":"索罗斯持仓","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","EXPE":"Expedia","LU0345774391.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC"},"translate_title":"由于人工智能担忧迫在眉睫，巴兹-伯恩斯坦削减了在线旅行社的PT","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EXPE":0.9,"BKNG":0.9,"BKNU":0.6},"content_text":"BUZZ-Bernstein cuts online travel agencies' PT as AI concerns loom  ** Bernstein cuts price target on online travel agencies (OTAs) Booking Holdings BKNG.O and Expedia EXPE.O ** Brokerage notes OTAs ended 2025 strongly, beating revenue and profit expectations and growing their market share across the year** Says, however, worries about how AI might change the way people search for and book travel have weighed on their share prices** Bernstein notes while AI remains a meaningful risk, OTA shares are now approaching 'AI disruption' scenario floors; combined with strong earnings momentum, the risk‑reward profile appears more balanced** As of last close, both BKNG and EXPE were down more than 18% YTD CompanyNew PTOld PTBooking Holdings $4698 $5407Expedia$253$256 (Reporting by Megavarshini G. Somasundaram in Bengaluru) ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2618941057","isCrawlerRequest":true}