Oppenheimer Upgrades Airbnb to Outperform, $180 Target

Oppenheimer raised Airbnb rating to Outperform from Perform and set a $180 price target.
Analyst Jed Kelly highlighted hotel expansion, reserve‑now/pay‑later, and AI‑search as revenue levers, citing Manhattan’s 3 million‑night supply gap.
Oppenheimer expects 2027 nights to grow 2%‑10% YoY, with revenue and EBITDA 3% and 1% above consensus.
Valuation seen at 14x 2027E EBITDA, with limited downside and upside from World Cup demand and oil‑shock resilience.