Airbnb price target raised to $102 from $100 at Wells Fargo

Wells Fargo raised the firm’s price target on Airbnb to $102 from $100 and keeps an Underweight rating on the shares. The firm sees better Q3 trends and raises its room nights estimate to +8.5%, up 1pt and above consensus, on improving traffic trends. However, Wells believes market expectations for accelerating nights and margin expansion in 2025 likely to prove unrealistic.