January 25, 2023

Bookings and Airbnb Stock See Downgrades. Wall Street Is Worried About Travel.

Analysts are getting jittery about online travel stocks, as the economy softens both in the U.S. and Europe. Concerns about the outlook spurred downgrades Wednesday for both

Booking Holdings

and

Airbnb

Gordon Haskett analyst Robert Mollins cut his Airbnb (ticker: ABNB) rating to Underperform from Hold, trimming his price target on the shares to $87 from $94, well below Tuesday’s close at $104.13. Haskett also reduced his stance on Booking (BKNG) to Hold from Buy, setting a target price of $2,456, about 2% above the previous close at $2,402.34. BofA Global Research analyst Justin Post also weighed in, reducing his rating on Booking stock to Neutral from Buy, with a price target of $2,700.

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