Airbnb price target raised to $136 from $112 at Barclays

Barclays raised the firm’s price target on Airbnb to $136 from $112 and keeps an Equal Weight rating on the shares. Barclays credit card data in the U.S. shows leisure lodging spending improved in May and June from the lows of April versus 2019, further showing stabilization in the second half of June, the analyst tells investors in a research note. Given macro uncertainty in the second half of 2023 after a local peak in Q1, the firm prefers to “stay defensive” with Booking (BKNG) heading into the Q2 prints for online travel.