Mizuho analyst James Lee lowered the firm’s price target on Airbnb to $130 from $150 and keeps a Neutral rating on the shares. The stock’s risk/reward is mixed into the quarter on “high bar” for fiscal 2024 room nights. With the exit rate likely to be in the low teens for room nights, there is downside revision risks to the consensus fiscal 2024 growth of 15% as we enter into the third year of re-opening, the analyst tells investors in a research note.
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