UPDATE: KeyBanc Upgrades Airbnb Inc. (ABNB) to Overweight
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KeyBanc analyst Justin Patterson upgraded Airbnb Inc. (NASDAQ: ABNB) from Sector Weight to Overweight with a price target of $180.00.
The analyst comments "We are upgrading ABNB from Sector Weight to Overweight as we believe a material positive revision cycle is about to take place driven by: 1) market conditions remaining favorable; and 2) model durability against digital ad inflation. As Airbnb demonstrates its direct traffic and unit economics advantages over peers, we believe 2021 and 2022 consensus EBITDA forecasts will trend higher (we are now ~44% and 38% above consensus, respectively) and that the EV/S and EV/EBITDA multiples will expand."
Shares of Airbnb Inc. closed at $145.49 yesterday.
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