Airbnb price target raised to $160 from $150 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on Airbnb to $160 from $150 and keeps a Buy rating on the shares. The analyst is citing strong supply trends in the U.S., with VRBO having its best sequential growth so far this year in June. Airbnb is likely growing even faster with other use cases like urban supporting higher growth, the firm tells investors in a research note.