Airbnb price target raised to $140 from $120 at Baird

Baird raised the firm’s price target on Airbnb to $140 from $120 and keeps a Neutral rating on the shares. The firm is incrementally positive as concerns around consumer travel demand are proving too pessimistic. While it’s hard to gauge demand trends beyond the next few months, Airbnb should still benefit from a strong brand, superior competitive position, and fast pace of product development.