Airbnb price target raised to $111 from $110 at Wells Fargo

Wells Fargo raised the firm’s price target on Airbnb (ABNB) to $111 from $110 and keeps an Underweight rating on the shares. Tapping brakes on expectations for hotel inventory additions, Airbnb likely maintains a more curated hotel supply in medium term, the firm says. Further, suggestion that sponsored ads will be “AI-search driven” means likely over 12 months away, Wells says, adding that growth inflection is on hold.