Airbnb (ABNB) After KeyBanc Upgrade Are Hotel Growth Hopes Making Valuation Look Too Cheap

KeyBanc’s recent upgrade of Airbnb (ABNB) to Overweight put fresh attention on the company’s hotel ambitions. This newer line of business could complement its core home-sharing marketplace for long-term growth. The recent upgrade lands after a mixed stretch for Airbnb’s share price, with a 22.12% year to date share price return and a 10.01% 90 day share price gain, offset by a 30 day move that declined 10.72%. Meanwhile, the 35.11% one year total shareholder return signals momentum that...