Oppenheimer Upgrades Airbnb to Outperform

Oppenheimer upgraded Airbnb to Outperform from Perform, setting a $180 price target, citing product initiatives and demand tailwinds.
Analyst Jed Kelly highlighted hotel push, Manhattan supply gap of ~3 million nights, and AI‑powered search as revenue accelerators.
Oppenheimer raised 2027 nights forecast 2% to 10% YoY, with revenue and EBITDA estimates 3% and 1% above consensus.
The note cites World Cup demand and resilience to oil‑supply shocks as near‑term tailwinds, valuing Airbnb at 14x 2027E EBITDA.