Airbnb upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs upgraded Airbnb (ABNB) to Neutral from Sell with a price target of $153, up from $110. The company reported solid Q4 results and articulated a 34.5% adjusted EBITDA margin floor for 2025, the analyst tells investors in a research note. The firm says this is likely a multi-year floor in terms of margins, “while also acting as a potential stimulant for growth exiting 2025.” Goldman now sees a much lower probability of an estimate revision cycle that would cause the shares to underperform. As a result, it upgraded Airbnb to Neutral, seeing a balanced risk/reward at current share levels.