Wedbush raises its opinion on Airbnb from 'neutral' to 'outperform' and increases its price target from $160 to $165, suggesting that investors take advantage of the stock's period of relative weakness (-8.5% since first-quarter results on May 8).

The broker also sees potential for higher estimates in the short term, following disappointing guidance for the second quarter, which he sees as cautious, given the positive travel data to date.

"Longer term, Airbnb's underlying growth opportunity remains attractive and there are significant options ahead as the company expands beyond its core business," adds Wedbush in its note on the accommodation rental platform.

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