Mizuho Upgrades Airbnb to Buy From Neutral, Hikes Price Target to $200 From $150

Tiger Newspress04-24

Airbnb is on a roll, and Mizuho expects even more gains ahead.

Analyst James Lee upgraded the short-term housing rental company to buy from neutral. His new price target of $200, up from $150, implies upside of 24%.

Shares were up 2% in the premarket. The stock has been on fire this year, soaring 18.2%.

Lee cited three drivers for the upgrade. First, “we expect the potential launch of sponsored listings to generate double-digit EBITDA upside long-term; (2) We believe FY24E consensus room night growth has been de-risked, leaving limited downside concerns; (3) We see opportunities to beat room night growth with incremental demand from Summer Olympics and share gains from elevated hotel pricing.”

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