Airbnb price target lowered to $111 from $114 at Wells Fargo

Wells Fargo lowered the firm’s price target on Airbnb to $111 from $114 and keeps an Underweight rating on the shares. The firm expects Airbnb to report in-line Q3 results and Q4 guidance. Wells sees some emerging Q4 headwinds, but none meaningful enough to bias its estimates materially lower.