UBS analyst Lloyd Walmsley raised the firm’s price target on Airbnb to $114 from $112 and keeps a Neutral rating on the shares as part of a broader research note previewing Q4 results for online travel names. The travel recovery is holding up better than feared, despite concerns on how the macro environment could weigh on leisure travel, the analyst tells investors in a research note. The setup on the stock also looks better than the last several quarters, with lower consensus estimates and expected declines in ADRs heading into FY23, UBS states.
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