Phillip Securities on Monday upgraded Airbnb (ABNB) to Neutral from Reduce with a price target of $112, down from $120. The firm said accelerating double-digit growth in emerging markets has driven “strong growth” in new users and booking volume. It cited the recent share price performance for the upgrade. However, Phillip remains “conservative” on Airbnb’s fiscal 2025 due to macroeconomic headwinds and softening consumer demand.
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