Booking Holdings Surges 8.5% as Mizuho Names It Top Internet Pick Following OpenAI Checkout Pivot
Booking Holdings shares jumped 8.46% Thursday after Mizuho named the company its Top Pick in Internet, replacing Airbnb, citing OpenAI’s shift away from ChatGPT native checkout toward app-based purchases. Mizuho analyst Lloyd Walmsley said reduced AI-checkout disruption risks could drive a rebound for online travel agencies and benefit established intermediaries.
1. Mizuho’s Top Pick Switch
Mizuho elevated Booking Holdings to its Top Pick in Internet, displacing Airbnb from that slot, based on expectations that established online travel agencies will gain if AI-driven checkout concerns subside.
2. OpenAI Checkout Strategy Change
The change follows OpenAI’s decision to pull back from native ChatGPT checkout functionality due to low merchant uptake, sales-tax infrastructure hurdles and a pivot toward app-based partner purchase flows.
3. Booking Shares Rally
Shares climbed 8.46% Thursday to close near $4,613, recovering from a recent low around $3,765 but still trading below both the 50-day and 200-day moving averages, signaling a tentative uptrend.
4. Analyst Ratings and Targets
BTIG reiterated a Buy rating with a $6,250 target; Morgan Stanley upgraded to Overweight but cut its target to $5,500; Susquehanna maintained Positive with a reduced $5,000 target; UBS and Citigroup held Buy ratings with targets near $6,250–$6,485.