Demand for Airbnb rentals to remain strong, says Argus

Argus keeps a Buy rating and $168 price target on Airbnb, stating that demand for Airbnb rentals is expected to remain strong in the U.S. amid longer stays and growth in urban markets. Airbnb also stands to benefit from the easing of COVID-19 restrictions in China and expansion in Latin America, the analyst tells investors in a research note, adding that over the long-term, the company should post high-teens revenue and earnings growth as travel increases in developed markets.