Airbnb price target raised to $125 from $100 at Baird

Baird analyst Colin Sebastian raised the firm’s price target on Airbnb to $125 from $100 and keeps a Neutral rating on the shares. The analyst said while Q4 results were generally solid, bookings and nights were a little light of consensus; importantly, however, management spoke positively about booking trends for Q1 to-date, consistent with our preview and 3P data points; this includes recovery in Europe and Asia.