Wedbush lowered the firm’s price target on Airbnb (ABNB) to $130 from $135 and keeps a Neutral rating on the shares. The firm says investors are focused on the ongoing rollout of experiences/services, the company’s mix to higher-growth expansion markets beyond the core, management’s ability to navigate softening demand trends in core markets, and the near-term margin impact of recent investments to drive growth. Wedbush views the risk/reward as more balanced versus prior periods given the company’s relative exposure to softer areas of global travel demand.
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