Wedbush analyst Scott Devitt lowered the firm’s price target on Airbnb (ABNB) to $130 from $135 and keeps a Neutral rating on the shares. The firm notes Airbnb reported strong Q2 results and provided an in-line outlook for Q3. Importantly, Airbnb plans to spend $200M towards launching and scaling new businesses this year, at the low end of its initial $200M-$250M framework, while reiterating a full year adjusted EBITDA margin outlook of at least 34.5%, the firm notes.
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