B. Riley analyst Naved Khan upgraded Airbnb (ABNB) to Buy from Neutral with a price target of $170, up from $140. The firm cites the stock’s attractive valuation and the company’s prospects for sustained “healthy” growth and margin expansion. B. Riley sees room for share upside in a stable demand environment for travel. Airbnb is positioned to benefit from secular growth in short-term rentals and its international expansion but should also get an uplift from the broader rollout of “reserve now pay later” and the addition of hotel inventory in supply-constrained markets, the analyst tells investors in a research note.
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