RBC Capital raised the firm’s price target on Airbnb (ABNB) to $160 from $130 and keeps a Sector Perform rating on the shares. The company’s Q4 report was better-than-feared, and positively, the management announced incremental investments to support various growth initiatives, the analyst tells investors in a research note. Airbnb is on a clear path to expand its total addressable market beyond core stays where the strength of its brand will continue to look compelling to long-term investors and reasonably supportive of the multiple, RBC adds.
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