Benchmark rolls out Buy on Airbnb due to top market position

Benchmark analyst Daniel Kurnos initiated coverage of Airbnb with a Buy rating and $190 price target. Even as competition increases in alternative accommodations within the broader travel market, research shows that Airbnb has retained its number one position with consumers, hosts, and unaffiliated travel experts, the analyst tells investors in a research note. The firm views the shares as a “sound momentum play, with potentially material upside to fundamentals over the next 12-36 months” due to market expansion and growth in service fees.