BofA lowered the firm’s price target on Airbnb (ABNB) to $140 from $149 and keeps a Neutral rating on the shares. Room night growth accelerated in Q4, but the firm thinks acceleration was widespread in the OTA sector as Expedia (EXPE) also beat and the firm expects a beat from Booking (BKNG) as well. While Airbnb had a “solid quarter,” the firm still favors others in the OTA sector, the analyst tells investors, citing OTA sector multiple compression for the firm’s lowered target.
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