AirBNB (NASDAQ:ABNB) stock is on the rise Friday following some positive coverage from Susquehanna Financial Group.
Susquehanna analyst Shyam Patil initiated coverage of ABNB stock with a positive rating for the company. That comes alongside a price target of $180 per share. It’s worth noting this is the highest price target for ABNB stock from an analyst.
The $180 price target for ABNB stock implies that the company has plenty of room for growth. It’s sitting 22.4% higher than the stock’s closing price of $147.05 on Thursday. That’s also a stark contrast to the consensus price target of $111 per share.
So why exactly is Susquehanna taking a such a bullish stance on AirBNB? First off, the firm notes that the company is the obvious leader in the short-term rental space. It’s also worth mentioning that the company controls the majority of its traffic due to handling both the host and guest sides of business, reports Bloomberg
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ABNB stock was up 4.9% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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