
D.A. Davidson upgrades Airbnb ABNB.O to 'buy' from 'neutral', citing relative resilience of online leisure travel spend, focus on affordability, new product cycle and reasonable valuation
Brokerage cuts co's price target to $155 from $170, the new price target shows 23.5% upside to stock's last close
Shares down 5% at $119
Says inventory supply provides a number of competitive advantages for co in areas such as transaction conversion rate, efficiency of marketing spend, and revenue quality
15 of 46 brokerages rate the stock "buy" or higher, 26 "hold" and 5 "sell"; their median PT is $146.76
As of last close, stock was down 9.3% YTD