Airbnb: Wedbush upgrades stock

(CercleFinance.com) - Wedbush today upgrades Airbnb shares from 'neutral' to 'outperform', increasing its TP for them from $160 to $165, suggesting that investors take advantage of the stock's period of relative weakness (-8.
5% since Q1 results on 8 May).

The broker also sees potential for higher estimates in the short term, following disappointing guidance for the second quarter, which it sees as cautious, given positive travel data to date.

Longer term, Airbnb's underlying growth opportunity remains attractive and there are significant options ahead as the company expands beyond its core business, Wedbush adds about the accommodation rental platform.


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