Morgan Stanley upgraded Booking Holdings from Equal Weight to Overweight on February 24, 2026. [3, 4] The bank set a new price target of $5,500 for the shares. [3, 4]
Analysts cited the company's ability to navigate artificial intelligence as a core reason for the upgrade. [3, 4] Booking is expected to remain a key travel driver by leveraging its extensive data and direct customer relationships. [4, 5, 7]
Recent stock weakness driven by AI disruption fears has pushed the company's valuation to a 10-year trough. [5] Early AI travel products currently funnel traffic to online travel agencies because tech platforms avoid customer service and payment risks. [5, 7]
The firm highlighted Booking's leading inventory as a significant leverage point. [7] Morgan Stanley also expressed confidence in the company's long history of strong operational execution. [7]