Airbnb price target lowered to $135 from $145 at Wedbush

Wedbush lowered the firm’s price target on Airbnb to $135 from $145 and keeps a Neutral rating on the shares. The firm notes Airbnb reported Q3 results above consensus but provided disappointing guidance for Q4 relative to expectations. Given management’s outlook, Wedbush thinks multiple expansion may be constrained relative to the group until evidence of a sustainable reacceleration in underlying growth emerges.