Airbnb falls after Truist downgrades to 'sell' on expected lower RevPAR

Airbnb ABNB.O shares down nearly 3% at $125 in premarket trading

Truist Securities downgrades co's rating to "sell" from "hold"

Brokerage cuts price target to $106 from $112, a downside of 17.4% to the stock's last close

Says reason for taking down estimates and price target reflects reduced expectation for revenue per available room (RevPAR) in Q3 and Q4

Adds combination of volatility in consumer and business confidences, government segment cutbacks, and diminished in-bound international travel are manifesting in soft bookings for Q3 and Q4

Truist raises 2025 adj EPS forecast to $4.23 from $4.22

15 of 46 brokerages rate the stock "buy" or higher, 25 "hold" and 6 "sell"; their median PT is $140- data compiled by LSEG

As of last close, stock had fallen 2.3% YTD