Airbnb price target raised to $135 from $110 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Airbnb to $135 from $110 but keeps a Sector Perform rating on the shares. The company’s Q4 results were "strong" and its Q1 outlook was well above consensus as various international geographies strongly rebound and booking windows expand, with only a slight offset coming from lower growth in North America, the analyst tells investors in a research note. The firm adds however that the stock looks closer to fairly valued than undervalued, with afterhours gains indicating a 22-times multiple on enterprise to expected FY24 EBITDA basis.