AI sell-off in this travel stock looks overdone, says Morgan Stanley

Morgan Stanley believes that immediate concerns about artificial intelligence look premature when it comes to Booking Holdings . The bank upgraded the travel technology company to overweight from equal weight. Analyst Brian Nowak lowered his price target to $5,500 from $6,150, though the new forecast still signals a gain of 42%. Shares of Booking have plunged 23% over the past 12 months and 28% this year alone. But Nowak is less concerned about artificial intelligence threatening Booking than the recent sell-off might imply. BKNG 1Y mountain BKNG 1Y chart