Benzinga | Oct 1, 2021 01:20PM EDT

Airbnb Gets Analyst Love As Travel Recovers - Read Why

* Analysts raised their price targets on Airbnb Inc (NASDAQ:ABNB), betting on a recovery in travel.

* Loop Capital analyst Rob Sanderson raised the price target to $205 from $195, implying a 22.2% upside, and affirmed a Buy.

* The analyst cites CEO Brian Chesky's call for a "travel revolution" and the post-pandemic incremental market in serving more remote workers.

* Airbnb is well-positioned to capture incremental share from a recovery in travel and take the lion's share of the emerging 'live anywhere' use case.

* BTIG analyst Jake Fuller raised the PT to $190 from $170, suggesting a 13.3% upside, and reiterated a Buy.

* The analyst notes that his tracking work for Q3 suggests "in-line" room nights at about 80 million but a higher Average Daily Rate, where he increases his estimate to $166 from $158, which is above the $153 consensus.

* Fuller further cites "ancillary revenue streams" for Airbnb over the medium term while noting that it is a "best-in-breed OTA" given its "unmatched" brand recognition and the low penetration in the alternative accommodations category.

* Price Action: ABNB shares traded higher by 1.91% at $170.95 on the last check Friday.