Airbnb price target raised to $165 from $160 at Jefferies

Jefferies raised the firm’s price target on Airbnb (ABNB) to $165 from $160 and keeps a Buy rating on the shares. The firm’s analysis of Airbnb’s new hotel offering reveals a path to faster bookings growth, causing it to raise its estimates further above consensus, the analyst tells investors. The firm believes integrating independent hotels into the core interface will expand Airbnb’s total addressable market by supplementing supply during peak periods and broadening use cases in cities, the analyst added.