Morgan Stanley Downgrades Airbnb Inc. (ABNB) to Underweight, $60 Bear Case
Get Alerts ABNB Hot Sheet
Rating Summary:
29 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 12 | New: 16
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Morgan Stanley analyst Brian Nowak downgraded Airbnb Inc. (NASDAQ: ABNB) from Equalweight to Underweight with a price target of $80.00 (from $110.00).
The analyst comments "Supply deep dive speaks to slowing listings growth, occupancy headwinds, and lower room night demand. Estimates fall significantly and we don't think Street has considered this risk; we are ~10-20% below Street EBITDA. $80 PT has 19% downside and we discuss the above average risk of $60 bear case."
For an analyst ratings summary and ratings history on Airbnb Inc. click here. For more ratings news on Airbnb Inc. click here.
Shares of Airbnb Inc. closed at $98.51 yesterday.
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