Morgan Stanley Downgrades Airbnb Inc. (ABNB) to Underweight, $60 Bear Case

(Updated - December 6, 2022 4:07 PM EST)

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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