Argus upgrades Airbnb to Buy on growth, cash flow

Argus upgraded Airbnb (ABNB) to Buy from Hold with a $190 price target following the Q4 report. The company is well positioned for growth within the marketplace for short-term homestays given its strong brands, 5M hosts, a superior travel experience, and prospects for higher take rates, the analyst tells investors in a research note. Argus expects strong cash flow generation from Airbnb and believes that over the long term, the company will post high-teens revenue and earnings growth, as it offers new services and as travel increases in developed markets.