Mizuho Upgrades Booking Holdings to Outperform Citing Overblown AI Fears and $6,000 Target

Mizuho upgraded Booking Holdings (BKNG) to Outperform from Neutral. The firm established a new price target of $6,000 for the travel company.

Analysts characterized market concerns regarding the disruptive potential of artificial intelligence in the travel sector as overblown. Mizuho identified the recent decline in share price as an attractive buying opportunity for investors.

The bullish call arrives amid mixed signals from other firms. KeyCorp recently maintained an Overweight rating on the stock while slightly trimming its price target.

In separate corporate developments, Booking subsidiary KAYAK appointed Peer Bueller as its new Chief Executive Officer. The leadership change follows a recent period of valuation pressure for the parent company.