Wells Fargo Analyst Sounds Alarm for Airbnb, Cites High Competitive Intensity and Lower Pricing
Portfolio Pulse from Anusuya Lahiri
Wells Fargo analyst Brian Fitzgerald initiates coverage on Airbnb, Booking Holdings, and Expedia Group with Underweight ratings, citing high competitive intensity and lower pricing. He sets price targets of $99 for ABNB, $2257 for BKNG, and $93 for EXPE.
June 08, 2023 | 4:21 pm
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NEGATIVE IMPACT
Airbnb receives an Underweight rating and a price target of $99 from Wells Fargo analyst Brian Fitzgerald, citing high competition and lower pricing.
The Underweight rating and lower price target for Airbnb are due to the analyst's concerns about high competitive intensity and lower pricing in the industry. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Booking Holdings receives an Underweight rating and a price target of $2257 from Wells Fargo analyst Brian Fitzgerald, citing high competition and lower pricing.
The Underweight rating and lower price target for Booking Holdings are due to the analyst's concerns about high competitive intensity and lower pricing in the industry. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Expedia Group receives an Underweight rating and a price target of $93 from Wells Fargo analyst Brian Fitzgerald, citing high competition and lower pricing.
The Underweight rating and lower price target for Expedia Group are due to the analyst's concerns about high competitive intensity and lower pricing in the industry. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100