** Wedbush lowers price targets on online travel companies on risks from exposure to AI-enabled disintermediation

** Brokerage says while booking windows have started to extend and consumers are reporting longer lengths of stay, AI could hurt long-term business for intermediaries like Airbnb ABNB.O, Booking Holdings BKNG.O, Expedia Group EXPE.O and Tripadvisor TRIP.O

** Adds that Expedia is most exposed to disintermediation given the company's relative exposure to a concentrated supply of hotel and accommodation chains

** Says it expects Airbnb to be the least exposed to displacement given co's fragmentation of its host and supply base

** Wedbush says it is most positive on BKNG as co's geographic diversification limits exposure to pockets of softness or a weaker consumer

** Following are the new PTs: